The long-serving executive was said to be against current merger talks.
Bob Bakish is stepping down as Paramount Global's CEO, a move that comes as the company negotiates a merger with film and TV studio Skydance Media.Bakish's resistance to the Skydance deal was a source of friction with controlling shareholder Shari Redstone, sources told Axios, and his exit may allow those talks to escalate.
The company has been on shaky financial ground under Bakish's leadership, which has complicated Redstone's efforts to stabilize the business.exclusive talks Skydance made its best and final offer last week, a source confirmed to Axios. Its' exclusive window to negotiate with Paramount is set to expire Friday.
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