Bob Bakish was once a staunch ally of Shari Redstone, Paramount’s controlling shareholder. His departure comes as the company considers a major merger.
Benjamin Mullin and
Shari Redstone, the controlling shareholder of Paramount, has tried to resist the erosion of her media empire over the last decade as she confronted the death of cable TV, the rise of streaming and even a failed boardroom coup from a longtime ally.