Bob Bakish has stepped down as the CEO of Paramount amid his company's major merger with Skydance and its struggling streaming platform.
Paramount has removed Bob Bakish as CEO — and it doesn’t have plans to fill the role. The company announced the news as part of its earnings results on Monday, which will leave Paramount reliant on a committee made up of three executives. The new team consists of George Cheeks, the president and CEO of CBS; Chris McCarthy, the president and CEO of Showtime, MTV Entertainment Studios, and Paramount Media Networks; and Brian Robbins, the president and CEO of Paramount Pictures and Nickelodeon. ...
Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone. Paramount Global’s special committee and David Ellison’s Skydance Media, backed by private equity firms KKR and RedBird Capital Partners, are narrowing in on how to value Skydance’s assets as part of a merger, as well as how much equity to add to the company as part of a recapitalization, according to people familiar with the matter. The sides...
Paramount Global reports its quarterly earnings Monday.
Paramount Global and Skydance are getting closer to final terms on a merger agreement, sources told CNBC, but a renewal with Charter remains an obstacle.
There’s a lot of uncertainty ahead for CBS parent Paramount Global. That company has been at the focus of merger and acquisition talks for some time, and entered exclusive merger talks with Skydance earlier this month. But those talks have not yet produced a result, and it’s unclear if they will. And now, as per
Sony and Apollo showed formal interest in a Paramount Global buyout as Paramount's special committee is prepared to give its recommendation to Skydance.
The talks will take place when teams join the FIA and F1 management for a
Five years after John Malone retired from the board of directors at Charter Communications, he is exiting his post as the company’s director emeritus, Deadline has confirmed. The veteran exec and Liberty Media chairman, who has served on Charter’s board since 2008, cited the same Clayton Act concerns that led Steven A. Miron and Steven O. Newhouse […]
STORY: Peloton CEO Barry McCarthy, who took the helm two years ago to revive the flagging fitness firm, is stepping down. His departure, announced by the company Thursday, comes as demand for Peloton’s connected bikes and treadmills remains weak.Sales have waned since gyms reopened post-pandemic, followed by a cutback in consumer spending due to elevated inflation. McCarthy replaced founder John Foley in 2022, and with business chops honed at Netflix and Spotify, rebranded Peloton into a...
Paramount Global (PARA) is caught in the middle of a bidding war between Skydance Media and a joint offer from Sony (SONY) and Apollo Global Management (APO). Paramount CEO Bob Bakish has stepped down from his role, replaced by an "Office of the CEO" consortium comprised of three chief executives from across Paramount's top broadcast networks. Ariel Investments Co-CEO John Rogers, who is also a Paramount shareholder, finds Bakish's ousting to be a "pretty extraordinary" event during major M&A...
Hollywood giant Paramount is replacing its previous boss with a trio of managers in the midst of merger negotiations. Instead of chief executive officer Bob Bakish, the three top managers of the various divisions are to lead the group, Paramount said. “To lead and oversee the company moving forward, Paramount Global has established an […]