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Bob Bakish

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business2 years ago•6 min saved

Paramount Global CEO Urges Staff to Stay Focused Amid Layoff and Merger Speculation

Paramount Global CEO Bob Bakish announced plans to continue reducing the company's global workforce in a memo to staff, outlining three strategic goals for 2024: maximizing content, driving streaming profitability, and further unlocking the power of ONE PARAMOUNT. The memo did not provide details on the layoffs, which are expected to impact hundreds of employees, and briefly addressed M&A speculation surrounding the company.

via Deadline|

#bob-bakish #business #layoffs

entertainment3 years ago•1 min saved

Paramount CEO Optimistic for Swift Resolution to Writers and Actors Strikes

Paramount CEO Bob Bakish expresses hope for a timely resolution to the ongoing writers and actors strikes in Hollywood, emphasizing the importance of the partnership with the creative community. The company expects higher free cash flow in the second half of the year due to cost-savings from the strikes. Bakish highlights the success of Paramount+ series Special Ops: Lioness and the use of series like Yellowstone to strengthen CBS' fall slate. He also mentions the production of 85 international originals for Paramount+.

via Deadline|

#actors-strike #bob-bakish #entertainment

entertainment3 years ago•1 min saved

The Implications of the Writers Guild of America Strike.

Paramount CEO Bob Bakish says the studio has "levers to pull" to manage through the WGA strike, including a large library of content, reality and unscripted programming, and offshore production. Bakish also stated that the financial impact of the strike will depend on its duration, but it is expected to be slightly dilutive to revenue, flat to oebitda, and accretive to cash.

via Deadline|

#bob-bakish #content-creation #entertainment