Paramount Global Co-CEOs Tell Staff “It’s Business As Usual” Until Skydance Deal Closes
deadline.comFollowing the news tonight of Skydance Media‘s $8 billion deal to take over Paramount Global, the current co-CEO troika of Brian Robbins, George Cheeks and Chris McCarthy issued a statement to staff that “until the transaction closes, it’s business as usual.” The transaction isn’t expected to close until the first half of 2025 due to regulatory approvals.
While it’s still to be determined who from the triad continues on in the new Skydance owned Paramount, what was made certain tonight was that Skydance Media’s David Ellison will be the new Chairman and CEO of the new conglom with former NBCUniversal chief Jeff Shell acting as president.
In Paramount Global controlling shareholder Shari Redstone’s note to employees, she spoke of the troika saying, “I think we can all agree on their enormous contributions to this company” while also explaining why the company went in the direction of a CEO troika, while simultaneously being courted by Skydance. “At the same time, as you know, our Board has focused on ensuring we are pursuing all opportunities to best position the Company for the future and maximize value creation for all shareholders,” said Redstone.
The troika added in their note to employees, “We will continue to operate as an independent company and move forward with the strategic plan we outlined at our town hall.
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