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Bob Bakish Out as Paramount Global CEO

Bob Bakish is about to step down as CEO of Paramount Global after eight years at the helm of Shari Redstone’s media empire.

Amid the M&A drama enveloping Paramount Global, Bob Bakish is about to step down as CEO after eight years at the helm of Shari Redstone’s media empire. Another group, Sony Pictures and Apollo Global Management, is poised to field a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiating window with Skydance nears. The company has been through the wringer over the past year with a slumping stock price, successive quarters of weak earnings pulled down by losses in its streaming division.

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