Bob Bakish, president and CEO of Paramount Global, will depart the company as Paramount explores a merger, according to numerous published reports. The reports said Bakish’s unsettled relationship with Shari Redstone, Paramount non-executive chair, is a major factor in the move.
The deal could come Monday, April 29.
Paramount is in talks to merge with Skydance.
Bakish joined Paramount predecessor Viacom in 1997. He became president and CEO in late 2016 and then president and CEO of ViacomCBS in late 2019. He was named Paramount president and CEO in 2022.
Paramount’s brands include CBS, CBS News and Stations, Paramount Plus, Showtime, MTV and BET.
Redstone is reportedly displeased with Bakish’s decision not to sell Showtime, and taking BET off the market before a deal went down.
Paramount reports earnings April 29. CNBC reported that Bakish is not expected to be on the earnings call, and could be dismissed before that.
Paramount Global did not respond, on short notice, to a request for comment at presstime.
Reports said Bakish’s successor could be by committee, including George Cheeks, president and CEO of CBS; Brian Robbins, president and CEO, Paramount Pictures and Nickelodeon, and chief content officer, Movies and Kids & Family; and Chris McCarthy, president and CEO, MTV Entertainment Group.
