Shari Redstone is playing M&A war games with removal of Paramount CEO Bob Bakish
Publishing timestamp: 2024-04-29 11:27:04
Summary
Paramount Global is set to remove CEO Bob Bakish ahead of the quarterly earnings report. Controlling shareholder Shari Redstone is open to a "majority of minority" vote on the Skydance merger deal. The removal of Bakish could help force through the merger agreement, which has faced criticism from large common shareholders. Paramount Global shares jumped in premarket trading. Talks with Skydance are set to end soon, and a joint bid by Apollo Global and Sony could serve as a white knight if investors don't want Skydance. The company also has an important carriage renewal deal with Charter Communications coming up.
Sentiment: MIXED
Keywords: technology, breaking news: business, business news, paramount global, shari redstone, apollo global management inc, entertainment, media,
Source: https://www.cnbc.com/2024/04/29/shari-redstone-paramount-ceo-bob-bakish-removal.html