Advanced Television

Bakish out at Paramount?

April 29, 2024

Bob Bakish, Paramount Global CEO, is reportedly set to resign – or be ousted from the company – amid tensions as the company explores a merger.

The media conglomerate is currently in a 30-day exclusive negotiating period with Skydance Media, who have partnered with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period expires in early May.

Bakish’s potential removal has arose from an increasingly contentious relationship with Redstone, according to The New York Times. Bakish is said to privately opposed the potential merger which has led to Redstone wanting rid of Bakish ahead of renewal negotiations with Charter Communications for CBS and other Paramount networks, which are key to solidifying Paramount’s value for the merger, according to CNBC.

Bakish has been with the company since 1997, and could step down as early as this week.

Paramount has thus far declined to comment.

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