The Plan to Save Paramount: More Layoffs and Another Streaming Bundle

[Aquaman]

Three Paramount Global CEOs lay out their three-part plan to save the company, Skydance or no Skydance.

BY TONY MAGLIO

JUNE 4, 2024 11:06 AM

Paula Malcomson as Anna Fletcher in episode 2, season 3 of 'Mayor of Kingstown,' streaming on Paramount+

Dennis P. Mong Jr./Paramount+

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Paramount Global needs to (further) reduce its staff size to compete in today’s cutthroat media landscape. Perhaps it could start by trimming a few CEOs.

After Bob Bakish was unceremoniously (but richly) exited from the company, Paramount went with an “Office of the CEO” setup, the trio of George Cheeks, Chris McCarthy, and Brian Robbins. Those three, with a lead-in from controlling shareholder Shari Redstone, ran Paramount Global’s 2024 Investor Day presentation — and a brief (and very rehearsed) Q&A — on Tuesday.

Redstone’s is the final signature required for Paramount to be merged with Skydance; a formal announcement is likely in the coming days. Until then, mum is the word on that pending deal — and Paramount Global must present to investors like the offer doesn’t exist.