Bob Bakish Set To Resign As Paramount Global CEO Amid Skydance Talks

Paramount Global CEO Bob Bakish is set to step down from the media company as early as Monday morning amid talks with Skydance, and ahead of the company’s quarterly earnings that afternoon.

News Bakish might exit started circulating Friday. Paramount’s controlling shareholder and executive chair Shari Redstone, while once clearly on the same page with the chief executive, is said to be unhappy with some of his more recent strategic moves including a decision not to unload Showtime and an aborted sale process for BET. Deadline has also heard that Bakish is not a fan of a deal with David Ellison’s Skydance, in opposition to Redstone. The two companies are towards the end of a exclusive month-long negotiating period.

Paramount is reporting first quarter earnings after market close Monday. Bakish is not expected to be on the call.

It’s not clear how the company would replace him. Reports suggest the possibility of creating of an office of the CEO led by division heads including Brian Robbins, George Cheeks and Chris McCarthy. Robbins is president & CEO of Paramount Pictures & Nickelodeon and chief content officer, Movies and Kids & Family, Paramount+; Cheeks is president-CEO of CBS, and chief content officer, News and Sports, Paramount+; Mcarthy is president, Entertainment & Youth Brands, Domestic Media Networks.

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