Paramount Global ousts chief Bob Bakish as future of media conglomerate hangs in the balance

New York (CNN) — Paramount Global on Monday parted ways with chief executive Bob Bakish in a seismic move that sent reverberations through the media conglomerate as it actively engages in acquisition talks with Skydance Media.

In place of Bakish, who led the company since controlling shareholder Shari Redstone reunited Viacom and CBS Corporation under one roof in 2019, will be a triumvirate of leaders: Brian Robbins, chief executive of Paramount Pictures; Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios; and George Cheeks, chief executive of CBS.

“The Board and I thank Bob for his many contributions over his long career, including in the formation of the combined company as well as his successful efforts to rebuild the great culture Paramount has long been known for. We wish him all the best,” Redstone said in a statement.

This is a developing story and will be updated.

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