Paramount Global’s Chief Executive Robert Bakish could depart the company as soon as this week, according to a report published by the Wall Street Journal over the weekend.
The apparent imminent departure comes amid tension between Bakish and National Amusements owner Shari Redstone, which have reached a “breaking point,” the Journal reported. Redstone owns a controlling amount of Paramount’s stock.
Redstone has been pushing for a deal that would see Paramount’s studio and broadcast business merge with Skydance Media, a move that has drawn controversy from some of Paramount’s minority institutional and retail shareholders.
If Bakish is pushed out, he could be replaced with a revolving panel of other executives who run Paramount on an interim basis while the board continues to explore the Skydance merger, the Journal said.
