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Paramount Global Boots Bob Bakish as CEO, Names New Leadership Team of Three Execs
As expected, Bob Bakish is out as CEO of Paramount Global, and the company announced a new executive team that will step in on an interim basis.
The management shakeup is the latest chapter in Paramount’s months-long M&A saga — and Bakish’s removal may be intended to accelerate the consummation of a deal. Meanwhile, a competing offer may be brewing by Sony Pictures Entertainment and private-equity firm Apollo Global Management, which have discussed teaming on a bid to take Paramount private. Bakish, 60, had led Paramount Global as president and CEO since it was formed through the recombination of Viacom and CBS in 2019, with Shari Redstone prevailing to bring the two companies together after a legal fight.
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