#Breaking: It's a done deal. Paramount's board has approved a deal to merge with Skydance Media.
— The deal breathes new life into an iconic Hollywood brand that's lost more than 70% of its market value since 2019, when Shari Redstone recombined Viacom and CBS.
— As expected, Skydance CEO #DavidEllison becomes CEO and chair of "New Paramount." RedBird's #JeffShell (former CEO of NBCU) becomes President.
— Deal will require regulatory approval. Billions in synergies are anticipated.
More on Axios:
I'm not so enthusiastic. This puts yet another billionaire in charge of the CBS News division. The trend is too few people owning too much, and having too much social / market influence.
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
Co-founder, Chief Executive Officer at StreamVX | One of the pioneers and active contributors of the pay-TV industry | Video Streaming | OTT services | IPTV Technologies | Monetization | MSO Advisory | IEmmy Member
Bob Bakish steps down as CEO of Paramount Global.
Amid the M&A drama enveloping Paramount Global, Bob Bakish is stepping down as CEO after eight years at the helm of Shari Redstone's media empire.
Bakish resigned under pressure. The executive has been with Paramount and its predecessor Viacom since 1997. He was hired by Redstone in 2016 to help bring stability to the company amid a public legal battle between shareholders and a fight for control between Redstone and former Viacom CEO Philippe Daumanamd.
The Wall Street Journal is the first media source to report the situation with Bob Bakish. Paramount's board is currently in exclusive takeover talks with Skydance Media and RedBird Capital. Another group, Sony Pictures and Apollo Global Management, is poised to make a formal all-cash offer for the company next week as the May 3 expiration date of the exclusive negotiation window with Skydance approaches. As Skydance talks have dragged on for months, it's become clear that Skydance CEO David Ellison would take the helm of the enlarged Paramount-Skydance operation, while RedBird executive Jeff Shell, formerly CEO of NBC Universal and a longtime Comcast executive, would serve as Ellison's No. 2, overseeing day-to-day operations. There was no pretense of carving out a role for Bakish.
Bakish will step down as CEO when the sale is completed. Whoever acquires Paramount Global does not matter. The company has been through the wringer over the past year. A falling stock price, losses in the company's streaming division, weak earnings in consecutive quarters - these are the main reasons to say goodbye to Mr Bakish. CNBC reported that Bakish's exit was hastened by his opposition to the merger plan with Skydance. Let me know, what are your thoughts about this topic.
You can find a link to the full article in the first comment under this post.
Follow my profile to stay up-to-date when it comes to industry news, technology updates, and market analysis.
#SzymonKarbowski#StreamVX#BobBakish#ParamountGlobal#ShariRedstone#Viacom#SkydanceMedia#RedBirdCapital#SonyPictures#ApolloGlobalManagement#TheWallStreetJournal#CNBC#NBCUniversal#Comcast
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2wI'm not so enthusiastic. This puts yet another billionaire in charge of the CBS News division. The trend is too few people owning too much, and having too much social / market influence.