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It’s Official: Bob Bakish Is Out At Paramount Global, Trio Of Division Heads Form New Office Of The CEO

Paramount Global CEO Bob Bakish is departing and a trio of top division heads, Brian Robbins, George Cheeks and Chris McCarthy, are stepping up..

But offers to buy Showtime were rebuffed and the company appeared to bungled a sale of BET as financial pressure kept mounting amid streaming losses and a steady decline in linear television. Merger speculation has swirled around Paramount for several years, accelerating last fall — around the same time the board added golden parachute provisions to compensation arrangement for top executives. The outline of the initial deal called for Skydance and backers Larry Ellison and Gerry Cardinale’s RedBird Capital to acquire Shari Redstone’s controlling stake in Paramount plus other assets of family holding company National Amusements for about $2 billion.

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