Paramount Global‘s unorthodox Office of the CEO, which started as a presumed placeholder, is turning into a longer-term fixture poised to once again reshape the tempest-tossed company.
Consisting of three top Paramount execs – George Cheeks, Chris McCarthy and Brian Robbins – the Office replaced Bob Bakish when the former CEO was ousted in late April.
Rather than shepherding the legacy company through a regulatory process with Skydance Media, Cheeks, McCarthy and Robbins must now turn to implementing their strategic plan.
Core elements include layoffs, non-content cost reductions, asset sales and potential streaming partnerships. A number of levers will be pulled in an effort to pay down the company’s debt load of $14 billion and otherwise improve the balance sheet.
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