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Is The Mission Possible For Paramount’s Crowded Corner Office? CEO Troika Settles In As Layoffs And Asset Sales Loom
As Paramount Global moves past its merger with Skydance, its three-member Office of the CEO has gone from placeholder to a longer-term fixture.
They have operated “in complete lock-down mode,” as one source put it, without leaks or deviations from the plan, knowing they are under scrutiny by Redstone and the financial community, a newly prominent perch for the three show business lifers. If they wind up exiting in the coming quarters – multiple offers for National Amusements, the family entity led by Redstone that holds nearly 80% control of voting shares, remain on the table – it won’t hurt their career prospects to have a buttoned-up run in the corner office under their belts. During Bakish’s tenure, the company netted about $3 billion from the sale of Simon & Schuster and signature real estate holdings like New York’s “Black Rock” CBS home base and L.A.’s Radford studio lot.
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