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The Town with Matthew Belloni
A CEO Firing, and the Chaos at Paramount
Apr 30, 2024
Lucas Shaw joins Matt to discuss Paramount's CEO firing and potential sale, Skydance vs. Apollo deal predictions, and the implications of no deal. They also touch on the upcoming action movie 'Fall Guy' box office forecast.
32:27
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Quick takeaways
- Bob Bakish's sudden firing reveals conflicts with Skydance deal and missed opportunities at Paramount, impacting potential sale negotiations.
- Shareholder resistance complicates Sherry Redstone's pursuit of a Skydance deal amidst Apollo's $26 billion offer, adding complexity to Paramount's strategic decisions.
Deep dives
Paramount CEO Abruptly Fired Amid Potential Sale
The sudden firing of Bob Backish, the CEO of Paramount, has sent shockwaves amidst the company's potential sale. Backish's departure, supposedly due to conflicts with the proposed Skydance deal and missed opportunities, highlights the turmoil surrounding Paramount's future. The company's strategic shift towards streaming, coupled with financial challenges, underscores the need for decisive leadership amidst uncertain prospects.
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