Paramount Global Co-CEOs Address Strategic Plan After Skydance Bid Ends

Paramount Global’s Co-CEOs Brian Robbins, Chris McCarthy, and George Cheeks are forging ahead with their strategic plan for the company after Skydance’s bid officially ended. The executives sent a note to staff outlining their commitment to the plan, which includes transforming the streaming strategy, reducing costs, and divesting noncore businesses.

Despite the possibility of a future deal that could change Paramount’s ownership, the Co-CEOs are focused on executing their plan. They have also been granted enhanced severance packages and expanded cash bonuses in connection to their new roles.

The decision to end Skydance’s bid was made by Paramount Global’s non-executive chairwoman, Shari Redstone, who rejected the offer. The Co-CEOs are now looking forward to discussing their strategy in more detail at a Global Town Hall on June 25.

Overall, the executives are confident in Paramount’s future and believe in the company’s content, people, and plan for growth. They are grateful for their staff’s hard work and dedication during a period of change and speculation in the media industry.