Report: Paramount Global set to fire CEO

Paramount Global’s board is “preparing to fire” CEO Bob Bakish “as soon as Monday morning,” according to sources. Paramount Global reports its quarterly earnings Monday and Bakish “won’t be on the call.” The board is “expected to lean on company division heads in lieu of a CEO while it negotiates a possible merger with Skydance Media." Sources said that Bakish has "lost the trust of Paramount Global controlling shareholder Shari Redstone." Sources said that Redstone “wanted to make a move to oust Bakish before Paramount Global’s carriage negotiation with Charter Communications," which is “pivotal for setting a value for the company in its merger talks with Skydance” (CNBC.com, 4/27).