-- Paramount Global’s board is considering removing Chief Executive Officer Bob Bakish and putting the film and TV company under a committee of top executives while it evaluates a possible sale, according to a person familiar with the matter.Javier Milei Fuels Wild Rally That Makes Peso No. 1 in WorldHuawei’s New Phone Runs Latest Version of Made-in-China Chip
Some board members have been disappointed with Bakish’s decisions, according to people with knowledge of the matter. They include rejecting offers for the company’s Showtime and BET cable channels, which could have reduced Paramount’s exposure to the traditional TV industry and reduced debt.Paramount’s independent directors are weighing a deal under which Skydance would pay over $2 billion for Redstone’s 77% voting stake in the company.
Paramount has other potential suitors. Apollo Global Management Inc. and Sony Group Corp. are considering a joint bid for the company. According to a Wall Street Journal report, Paramount Global is considering removing current CEO Bob Bakish from his position and allowing a committee of top executives to run the company on an interim basis. Yahoo Finance Anchors Julie Hyman and Jared Blikre break down the latest development for Paramount and outline what the potential sale of the media conglomerate would involve. For more expert insight and the latest market action, click here to watch this full episode of Market Domination.
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