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
Here are the most important news items that investors need to start their trading day: 1. Climbing Stocks continued their gains on Monday ahead of a Federal Reserve meeting and the release of major corporate earnings. The S&P 500 climbed 0.32% while the Nasdaq Composite and Dow Jones Industrial Average rose 0.35% and 0.38%, respectively. … 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
Bob Bakish, president and chief executive officer of Viacom, attends the fourth day of the annual Allen & Company Sun Valley Conference, July 11, 2023 in Sun Valley, Idaho. David A. Grogan | CNBC Paramount Global CEO Bob Bakish is stepping down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish climbed … Read more
Despite fans’ anticipation and the enthusiasm of creatives, the proposed Star Trek: Legacy spin-off of Picard has yet to receive the green light from Paramount+, prompting questions about the studio’s plans. CBS CEO George Cheeks recently addressed this issue, shedding light on the decision-making process behind Paramount’s Trek projects. Timing and Strategic Planning In a … Read more
