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Bob Bakish resigned as CEO of Paramount Global.

The impending departure of Bob Bakish as CEO of Paramount Global marks the end of an era for Shari Redstone’s media empire. After eight years at the helm, Bakish is expected to step down under pressure, a move that has been anticipated since rumors began circulating last Friday.

Bakish’s tenure at Paramount and its predecessor Viacom, spanning back to 1997, speaks volumes about his dedication and commitment to the company. He was brought in by Redstone in 2016 amidst a tumultuous period characterized by public legal disputes and power struggles with former Viacom CEO Philippe Dauman.

Now, with Paramount’s board deeply engaged in acquisition talks with Skydance Media and RedBird Capital, Bakish’s departure seems imminent. The impending sale process, coupled with ongoing negotiations, has underscored the likelihood of Bakish’s exit, regardless of the outcome.

The prospect of David Ellison taking the helm of the combined Paramount-Skydance entity, with Jeff Shell as his second-in-command, leaves little room for Bakish in the new leadership structure. This lack of a clear role for Bakish further solidifies the expectation of his departure.

Paramount Global’s silence on the matter, coupled with Bakish’s absence from the upcoming earnings call, adds to the air of uncertainty surrounding his exit. It’s evident that Bakish’s opposition to the merger plan with Skydance has hastened his departure, signaling a shift in leadership dynamics within the company.

As Paramount Global navigates through this transitional period, the departure of Bakish marks the end of an era and paves the way for new leadership to steer the company through its next chapter of growth and evolution.

Sadhna B

Sadhna B

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