Paramount is preparing to announce the departure of its chief executive, Bob Bakish, as soon as next week, according to three people with knowledge of the matter, a sudden development that would come even as company is exploring a merger.
Ms. Redstone grew frustrated with what she saw as his inability to get important deals across the finish line, including a sale of the Showtime and BET cable channels, the people said.
The company is in talks to merge with Skydance, a media company controlled by the tech scion and Hollywood producer David Ellison.
It is also negotiating a lucrative deal to keep channels like Nickelodeon and MTV on the Charter cable system.
The Wall Street Journal earlier reported that Paramount’s board was considering replacing Mr. Bakish.
Persons:
Bob Bakish, Bakish’s, Shari Redstone, David Ellison, Bakish
Organizations:
Paramount, Showtime, BET, Nickelodeon, MTV, Street