Paramount Global's board is preparing to fire CEO Bob Bakish as soon as Monday morning, according to people familiar with the matter.Paramount is in exclusive talks for a merger with Skydance Media.
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.reports its quarterly earnings Monday. Bakish won't be on the call, the people said. The board is expected to lean on company division heads in lieu of a CEO while it negotiates a possible merger with
. Paramount Global has set up a special committee to explore the deal. The companies are in exclusive talks to pursue a deal until May 3, though that window could be extended.Sign up for NBC Philadelphia newsletters. Bakish has lost the trust of Paramount Global controlling shareholder Shari Redstone, according to people familiar with her thinking. Redstone wanted to make a move to oust Bakish before Paramount Global's carriage negotiation with Charter Communications, which is pivotal for setting a value for the company in its merger talks with Skydance, the people said.This is a developing story. Check back for updates.
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