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In what could easily be a plotline from HBO's hit show "Succession," Paramount Global plans to replace Chief Executive Officer Bob Bakish with a cohort of existing division heads on Monday, according to people familiar with the matter, in a chessboard-altering move designed to accelerate the company's future — one way or another.
The current leadership of Paramount Global presented a go-forward plan at the company's annual shareholder meeting Tuesday in the event a sale of the company doesn't happen.
Paramount and Skydance have agreed to terms of a merger, CNBC's David Faber reported Monday. A deal could be announced in the coming days, he said.
Sony Pictures and private equity firm Apollo Global Management have sent a letter to the Paramount Global board expressing interest in acquiring the company for about $26 billion, according to people familiar with the matter.
Paramount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue.
Paramount Global's board is preparing to fire Chief Executive Officer Bob Bakish as soon as Monday morning, according to people familiar with the matter.
Paramount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone, according to people familiar with the matter.
Paramount Global's stock slumped 8% on Thursday after CNBC's David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison's Skydance Media, according to sources familiar with the deal.