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Paramount Global pushed out CEO Bob Bakish on Monday — removing a major opponent to the media giant’s possible merger with Skydance Media.

Bakish, who had run Paramount since 2019, will be replaced by a three-headed “Office of the CEO” –consisting of George Cheeks, President and CEO of CBS; Chris McCarthy, President and CEO, Showtime/MTV Entertainment Studios and Paramount Media Networks; and Brian Robbins, President and CEO of Paramount Pictures and Nickelodeon, the company said.

I have tremendous confidence in George, Chris and Brian, Paramount board chair Shari Redstone said in a written statement after cutting ties with Bakish, long viewed as her right hand.

They have both the ability to develop and execute on a new strategic plan and to work together as true partners.”

The announcement came shorty before the debt-saddled company announced its quarterly earnings after the bell.

As expected, Bakish did not lead the earnings call, which kicked off at 4:30p ET and abruptly ended 10 minutes later.

The media conglomerate — home to CBS, MTV, BET, Hollywood studio Paramount Pictures and the Paramount+ streaming service — informed investors that it would not be taking questions from analysts, a staple of any earnings call, as it reported earnings that beat Wall Street expectations.

Cheeks kicked off the call by thanking Bakish, and emphasizing that “Paramount Global has the greatest content in the world.”

“Everything will be built from that,” he added.

Shares of the company rose nearly 1% in after-hours trading to $12.36.

Bakish’s golden parachute will be roughly $50 million, two sources told The Post.

He was paid $31.3 million in 2023 compensationand has a contract that runsthrough December 4, 2025, according to public filings.

Redstone thanked Bakish for his many contributions over his long career, including in the formation of the combined company as well as his successful efforts to rebuild the great culture Paramount has long been known for.

Nonetheless, his ouster comes after he reportedly clashed with Redstone, who controls Paramount through her family holding business, National Amusements. The daughter of the late media mogul Sumner Redstone has questionedwhether Bakish pursued strategic opportunitiesfor the company aggressively enough, including a potential sale of the Showtime channel, according to The Wall Street Journal.

Bakish, 60, also has privately argued against Redstone’s sweetheart deal with Skydance — the independent movie studio run by tech heir David Ellison, the son of Oracle co-founder Larry Ellison — because it dilutes common shareholders, according to reports.

The two companies have engaged in exclusive 30-day talks that expire Friday. Skydance planned to buy Redstone’s 77% stake in National Amusement for as much as $2 billion.

The purported payout has led to an outcry from large common shareholders including Mario Gabellis Gamco Investors, Ariel Investments, Matrix and Aspen Sky Trust.

Gabelli whose firm through super voting shares and common Paramount stock is the second leading voting shareholder next to Redstone  recently told The Post that he preferred that Bakish continue his turnaround strategy over a sale.

That includes a deal with Skydance or a sale to private equity firm Apollo Global Management, which has offered $26 billion and is now mulling a partnership with Sony as part of its Paramount acquisition.

In order to quell shareholders, Bloomberg reported Sunday that Redstone and David Ellison have both offered concessions to make the deal more palatable to Paramount’s other investors.

Ellison has put his best and final offer on the table with the offer to buy a block of Paramount shares.

On Monday, The New York Times reported that Skydance had offered to provide the combined company with a $3 billion cash infusion in recent days that it could use to pay down an estimated $14 billion in debt and buy back stock. 

Redstone, who owns a majority of the companys voting shares, has also agreed to let nonvoting shareholders have a say on whether any transaction should be approved.

Should a deal go through, privately-owned Skydance would be valued at $5 billion and merged with Paramount.

Ellison, along with private equity firms KKR and Redbird, plan to raise about $4.5 billion to $5 billion in new equity, according to reports.5

If a deal gets inked, Ellison is expected be named CEO of Paramount Global and former NBCUniversal CEO Jeff Shell as president, CNBC said.

Bakish joined Viacom in 1997 and took on roles of increasing seniority across the company’s operations, grabbing the reins of Viacom in 2016 and becoming the CEO of Paramount Global after Viacom merged with CBS. 

As Redstone and the Paramount board inch closer to a deal with Skydance, which has produced blockbusters for Paramount like Mission: Impossible Dead Reckoning, and Top Gun: Maverick, Bakish has sought out alternatives.

One such deal included a potential streaming partnership with NBCUniversal-parent Comcast, without keeping Redstone or the board in the loop, The Journal said.

Meanwhile, Redstone had grown tired of Bakish, blaming him for the companys overall predicament and what she views as missed chances to strike sound deals, The Journal said.

People close to Redstone said the mogul was open to selling premium channel Showtime, home to Billions, Dexter and Yellowjackets, but that Bakish turned down bids  even rejecting a $3 billion offer from former Showtime CEO David Nevins last year. Instead, Bakish folded Showtime and its content into Paramount+.

Bakish supporters beg to differ, saying that the exec put the company on the map with streaming via its Paramount+ launch, acquisition of Pluto TV, an ad-supported TV streaming service, as well as maintaining CBSs strong industry position, among other things.

But the companys market value has plunged by half since the Viacom-CBS merger as the legacy TV business shrinks and losses pile up in streaming.  

For the quarter that ended in March, Paramount reported adjusted earnings per share of 62 cents, well ahead of the 36 cents consensus of analysts — boosted mainly from revenue generated by hosting the Super Bowl in February.

Still, revenue came in shy of expectations at $7.69 billion. Wall Street had forecast $7.73 billion, according to LSEG data.

During the abbreviated conference, McCarthy underscored that the newly-formed leadership troika has “worked together for years” and that they have “deep respect” for one and other.

He added that the execs are “building a plan” which will “make the most out of our hit content.”

Robbins also attested to his long-standing business relationships with McCarthy and Cheeks.

“We will come back to you in short order with our plans,” he added.

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‘Bella Ciao’ to ‘OwO’ – what the engravings on bullets in Charlie Kirk case may refer to

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'Bella Ciao' to 'OwO' - what the engravings on bullets in Charlie Kirk case may refer to

Experts have described engravings left on ammunition at the scene of the Charlie Kirk shooting as “extremely online” – so what do the words and symbols actually mean?

Authorities said on Friday that the suspect accused of fatally shooting the Conservative activist left behind bullet casings featuring references to fascism, video games and internet memes.

Kirk at Utah Valley University where he was shot. Pic: Reuters/The Salt Lake Tribune
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Kirk at Utah Valley University where he was shot. Pic: Reuters/The Salt Lake Tribune

To those who aren’t chronically online, the messages may appear to be total gibberish. But for others, specifically gamers, many of the meanings will have immediately been clear.

Here’s what each of the casings reference – and why experts have cautioned against using them to make assumptions about the suspect’s political leanings.

1. ‘notices, bulges, OWO, what’s this?’

This writing appears to reference a meme about the furry subculture, which centres on an interest in anthropomorphic animal characters.

Within the furry community, OwO is an emoticon of a cute face (with the Os as the eyes and the w as a cute mouth or nose) and used as a way of flirting – but outside the community, it is often used in a mocking way, or as part of trolling.

It’s incredibly common for phrases used by people who are “extremely online” – which essentially means highly engaged in online culture – to have double or multiple meanings.

For this reason, experts have cautioned against trying to interpret messages such as these engravings to determine an attacker’s political leanings or motive.

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What we know about the shooting arrest

Jamie Cohen, an assistant professor of media studies who studies memes at Queens College in New York, said: “Oftentimes this extremely online disguise is meant to be doublespeak.”

Speaking to Sky News’ US partner NBC News, he continued: “It’s meant specifically for someone like me to dive into what they would call meme culture and declare them something so that they get more press.

“So it could just be another bait and switch for researchers who are falling into the same trap that they are designing for more viral exposure.”

2. ‘Hey, fascist! Catch ↑ → ↓↓↓’

When asked by Sky News’ US correspondent James Matthews what the messages on the casings meant, Utah governor Spencer Cox said the writing referring to a fascist “speaks for itself”.

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Engraving on bullet casing ‘speaks for itself’

The second half of the inscription – the directional arrows – were immediately identified by some gamers.

Helldivers 2 players have pointed out that the arrow sequence is the code used to summon a 500kg bomb in the 2024 game – which itself has been interpreted as a satire of fascism.

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3. ‘Oh bella ciao, bella ciao, bella ciao ciao ciao’

Bella Ciao is a classic Italian song that became a popular anti-fascism anthem during Benito Mussolini’s dictatorship.

It has won renewed popularity in recent years thanks, in part, to featuring multiple times in Netflix’s Spanish television series Money Heist.

A popular remix of Bella Ciao has hit more than 260 million streams on Spotify worldwide and it’s become a favourite on TikTok, as well as within the gaming community.

Read more:
All we know about the suspected assassin
The string of bloody political violence in the MAGA era

4. ‘If you read this, you are gay lmao’

This juvenile insult, using the well-known abbreviation for ‘laughing my ass off’, is a common ‘gotcha’ phrase and simply appears to mock investigators.

The messages, another expert has said, make one thing clear – the suspect was likely seeking fame.

Lindsay Hahn, a University at Buffalo associate professor who researches ideological extremism and the ways in which perpetrators of violence justify their actions, said the messages do not necessarily indicate a specific ideology.

“But what they do indicate, is that the shooter wanted to get a message across and therefore be talked about online,” she told NBC.

“It sort of seems like these messages, at the very minimum, were selected because he knew they were going to be talked about.”

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Labour MPs already angry over claim Mandelson’s appointment was ‘worth the risk’

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Labour MPs already angry over claim Mandelson's appointment was 'worth the risk'

If you want to know why so many Labour MPs are seething over the government’s response to the Mandelson saga, look no further than my mobile phone at 9.12am this Sunday.

At the top of the screen is a news notification about an interview with the family of a victim of the notorious paedophile Jeffrey Epstein, saying his close friend Peter Mandelson should “never have been made” US ambassador.

Directly below that, a Sky News notification on the business secretary’s interview, explaining that the appointment of Lord Mandelson to the job was judged to be “worth the risk” at the time.

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Peter Kyle went on to praise Lord Mandelson’s “outstanding” and “singular” talents and the benefits that he could bring to the US-UK relationship.

While perhaps surprisingly candid in nature about the decision-making process that goes on in government, this interview is unlikely to calm concerns within Labour.

Quite the opposite.

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For many in the party, this is a wholly different debate to a simple cost-benefit calculation of potential political harm.

As one long-time party figure put it to my colleague Sam Coates: “I don’t care about Number Ten or what this means for Keir or any of that as much as I care that this culture of turning a blind eye to horrendous behaviour is endemic at the top of society and Peter Kyle has literally just come out and said it out loud.

“He was too talented and the special relationship too fraught for his misdeeds to matter enough. It’s just disgusting.”

There are two problems for Downing Street here.

The first is that you now have a government which – after being elected on the promise to restore high standards – appears to be admitting that previous indiscretions can be overlooked if the cause is important enough.

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Government deeming Mandelson to be ‘worth the risk’ is unlikely to calm Labour MPs

Package that up with other scandals that have resulted in departures – Louise Haigh, Tulip Siddiq, Angela Rayner – and you start to get a stink that becomes hard to shift.

The second is that it once again demonstrates an apparent lack of ability in government to see around corners and deal with political and policy crises, before they start knocking lumps out of the Prime Minister.

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Sir Keir Starmer is facing questions over the appointment and subsequent sacking of Lord Mandelson as the UK’s ambassador to the US.

Remember, for many the cardinal sin here was not necessarily the original appointment of Mandelson (while eyebrows were raised at the time, there was nowhere near the scale of outrage we’ve had in the last week with many career diplomats even agreeing the with logic of the choice) but the fact that Sir Keir Starmer walked into PMQs and gave the ambassador his full-throated backing when it was becoming clear to many around Westminster that he simply wouldn’t be able to stay in post.

The explanation from Downing Street is essentially that a process was playing out, and you shouldn’t sack an ambassador based on a media enquiry alone.

But good process doesn’t always align with good politics.

Something this barrister-turned-politician may now be finding out the hard way.

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Charlie Kirk memorial to be held in Arizona stadium

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Charlie Kirk memorial to be held in Arizona stadium

A memorial for right-wing US influencer Charlie Kirk will be held next Sunday, in a stadium that previously hosted the 2023 Super Bowl.

The 31-year-old, who was a close ally of Donald Trump, was fatally shot in the neck on Wednesday while speaking to university students at an event in Utah.

His appearance at Utah Valley University was part of a planned tour of US college campuses.

A memorial for Charlie Kirk at Turning Point USA headquarters in Phoenix, Arizona. Pic: Reuters
Image:
A memorial for Charlie Kirk at Turning Point USA headquarters in Phoenix, Arizona. Pic: Reuters

Charlie Kirk at Utah Valley University, shortly before he was shot. Pic: AP
Image:
Charlie Kirk at Utah Valley University, shortly before he was shot. Pic: AP

Turning Point USA, the prominent youth conservative organisation of which Mr Kirk was the president and co-founder, is holding the event at State Farm Stadium outside Phoenix.

The venue is the home of the NFL’s Arizona Cardinals and can hold more than 60,000 people.

Tyler Robinson, a 22-year-old from Washington, Utah, is being held without bail after being arrested on suspicion of aggravated murder, felony discharge of a firearm causing serious bodily harm and obstruction of justice charges, according to court documents.

The motivation behind the fatal shooting is still unclear, but Utah governor Spencer Cox commented that Robinson described Mr Kirk as “full of hate and spreading hate”.

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Robinson is due to make an initial court appearance on Tuesday, when he is also expected to be charged, the Utah County attorney’s office said.

Tyler Robinson. Pic: Utah Governor's Office
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Tyler Robinson. Pic: Utah Governor’s Office

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Suspect’s movements before and after shooting

President Trump, who will be back in the US after his UK state visit next week, has previously said he plans to attend Mr Kirk’s funeral.

Mr Trump has said he will be posthumously awarding Mr Kirk with the nation’s highest civilian honour, the Presidential Medal of Freedom.

Mr Kirk’s body was flown back from Salt Lake City to his home state of Arizona on Air Force Two on Thursday, with the US vice president and close friend JD Vance on board.

JD Vance helps carry the coffin of Charlie Kirk from Air Force Two in Arizona
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JD Vance helps carry the coffin of Charlie Kirk from Air Force Two in Arizona

His widow, Erika Kirk, has vowed to continue his campus tour and his radio and podcast shows.

Speaking publicly for the first time in a livestreamed video on Friday, she said: “To everyone listening tonight across America, the movement my husband built will not die.”

“It won’t. I refuse to let that happen.”

She said she told her three-year-old daughter: “Daddy went on a work trip with Jesus.”

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Charlie Kirk shooting: What bullet inscriptions mean

Read more: What the engravings on bullets in Charlie Kirk case may refer to

Mr Kirk, who was a father of two, had millions of followers across social media.

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A makeshift memorial to Mr Kirk has been set up at Utah Valley University, with flowers, American flags and handwritten messages left at the main entrance.

The university says there will be increased security when classes resume on Wednesday.

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