Paramount Global says Chris McCarthy is the company’s “interim principal executive officer,” a necessity required by the SEC that apparently does not signal he has more decision-making power among a trio of top executives who stepped up to replace Bob Bakish this week in a new Office of the CEO. Security & Exchange Commission rules … Read more
Paramount has just unleashed its first quarter financials and they look pretty promising, although all eyes are on the shakeup in the C-suite. Revenue was higher across the board, albeit a hair shy of Wall Street expectations. Operating losses narrowed. Free cash flow rose, a key metric since it allows the company to pay down … Read more
After trying to reassure Wall Street with their brief opening remarks at the Paramount Global earnings call, the trio of executives named to the newly formed Office of the CEO looked to do the same with the company’s employees rattled by the sudden ouster of longtime CEO Bob Bakish amid sale negotiations with Skydance. In … Read more
Paramount Global on Monday announced that Bob Bakish is stepping down as CEO of the film, television and multimedia company. Bakish will be replaced by a troika of executives who will form a new “Office of the CEO.” The group includes George Cheeks, the CEO of CBS; Chris McCarthy, CEO of Showtime/MTV Entertainment Studios and … Read more
What do you do when your conglom might be a target for a takeover. Don’t sweat it and laugh. As Skydance remains in talks with Paramount Global’s majority shareholder National Amusements to take control of the studio Paramount Pictures CEO Brian Robbins made light of sales talks before exhibitors at CinemaCon in Las Vegas saying … Read more
