Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
Paramount Global Chief Executive Bob Bakish is expected to be ousted from the company, according to two sources familiar with the matter.
Bakish’s departure comes as Paramount’s future hangs in the balance.
The company is currently in a 30-day exclusive negotiating period with tech scion David Ellison, whose Skydance Media has teamed up with investment firms RedBird Capital and KKR to acquire Paramount controlling shareholder Shari Redstone’s National Amusements holding company. That exclusive negotiating period ends in early May.
Under a complicated two-step proposition, Ellison would gain control of the media company, which includes the storied Melrose Avenue Paramount movie studio, broadcast network CBS and various cable channels such as MTV and Comedy Central.
But shareholders have balked at reports of Ellison’s proposal, arguing that it would value Redstone’s shares at a premium while diluting the value for them. Several shareholders have said they’d prefer a deal with private equity firm Apollo Global Management, which is offering $26 billion, including the assumption of Paramount’s debt.
Bakish is said to have been opposed to the Skydance transaction. Redstone, according to one person familiar with the matter, has also been frustrated with certain of Bakish’s decisions, including not selling Showtime.
Recently, Sony has engaged in talks with Apollo to potentially join its bid, which could give Sony a significant majority stake in Paramount.
CNBC and Variety first reported the news of Bakish’s ouster. CNBC, in its report, said Bakish could be fired as soon as Monday, citing anonymous sources.
Representatives for Paramount declined to comment.
This is a developing story.
