Bloomberg Talks
Ariel Investments Chairman John Rogers Talks Paramount
Apr 30, 2024
Ariel Investments Chairman John Rogers discusses Paramount's future amid CEO Bob Bakish stepping down with Bloomberg hosts. Topics include Paramount's potential merger with Sony, corporate governance concerns in company combinations, and the diverse assets of Paramount Global and a potential deal with Skydance.
10:25
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Quick takeaways
- Concerns over the timing of Bob Bakisch's departure during critical business dealings with Skydance.
- Importance of thorough evaluation in deals, favoring an Apollo-Sony merger for stability over risky Skydance transaction.
Deep dives
Skydance Negotiations and CEO Departure
The sudden departure of Bob Bakisch, amidst negotiations with Skydance, raised significant concerns for shareholders. Ariel Investments found the timing of this move extremely problematic, especially during critical business dealings. Reports suggested Bakisch's exit stemmed from disagreements on deals with Skydance. John Rogers emphasized the need for certainty in deals, leaning towards an Apollo-Sony merger for stability over a potentially risky Skydance transaction.
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