Paramount Global CEO Bob Bakish is set to step down from the media company as early as Monday morning amid talks with Skydance, and ahead of the company’s quarterly earnings that afternoon.
News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone is said to be unhappy with some of the chief executive’s more recent strategic moves including a decision not to unload Showtime and an aborted sale process for BET. Deadline has also heard that Bakish is not a fan of a deal with David Ellison’s Skydance, in opposition to Redstone. The two companies are towards the end of a exclusive month-long negotiating period.
Paramount is reporting first quarter earnings after market close Monday. Bakish is not expected to be on the call.
It’s not clear how the company would replace him. Press reports suggest the possibility of creating of an office of the CEO led by division heads including Brian Robbins, George Cheeks and Chris McCarthy.
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