PANIC! Paramount CEO Bob Bakish FIRED | Earnings Call SPEEDRUN

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PANIC! Paramount CEO FIRED | Earnings Call SPEEDRUN | Bob Bakish | Paramount Stock | Financial News Bob Bakish Out! | PARAMOUNT CEO OUT?! | Paramount Stock | Entertainment News | Financial News | Stock Market News today
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Bob Bakish is OUT at Paramount as CEO?!?!
Paramount CEO Bob Bakish FIRED?! Earnings Call Crisis TODAY
thatparkplace.com/paramount-c...
Paramount Global (PARA) with a roughly $8.69 Billion Market capitalization opened trading this morning UP significantly around 6% on the weekend breaking news that CEO Bob Bakish could be fired from the company as early as today, Monday April 29th 2024 ahead of the earnings call this afternoon at 4:30pm EST.
Bakish was named CEO in October of 2016, replacing Tom Dooley. At the end of 2023, Paramount showed total revenues of nearly $30 Billion but Operating Income (a KEY profitability metric) showed a LOSS of about $500 Million. At the same time, total debt of the Hollywood studio and entertainment company stood at roughly $16 Billion, which is a significant amount for a enterprise of its comparably meager valuation.
Shari Redstone’s National Amusements currently holds about 77% of the voting power over PARA and she has been seeking a deal with David Ellison (son of Oracle founder and billionaire Larry Ellison), the CEO of Skydance (Top Gun Maverick, Mission Impossible, etc…). Rumors circulated that Skydance would pay National Amusements (Redstone) some $2 Billion in CASH, while other shareholders of PARA would be left with naught but stock in compensation and no guarantee of future performance. The deadline for that deal is Friday May 3rd, however, rumor also has it that Skydance is seeking a two week extension of that deadline.
Should that deal fall through or the period of exclusivity ends without a final offer, other players like Apollo Global Management will have a window opened to step in. It’s also been reported by Wall Street trades that Apollo may be coming in with the backing of Sony Pictures and a WHOPPING $26 Billion ALL CASH offer, however this is as of yet unconfirmed.
This alone is making CEO Bob Bakish’s tenure rocky to say the least as it’s no secret that he and Redstone have been at odds over management at Paramount for some time. This is not unlike the Michael Eisner situation some 20 years ago that saw the former Walt Disney Company CEO ousted in favor of an up-and-coming Bob Iger.
The REAL issue right now that likely has Skydance looking to delay negotiation deadlines is the fact that Paramount has yet to settle a new carriage deal with Charter/Spectrum (the second largest cable TV provider in the US behind Comcast) to continue broadcast of CBS and the family of other linear channels under the Paramount banner. Failure to come to terms would have a SIGNIFICANT negative impact on the overall valuation of Paramount. The deadline for that deal is tomorrow, Tuesday April 30th 2024.
As it stands right now, both Redstone (via National Amusement) and the Board of Directors of Paramount look to be taking a vote of NO CONFIDENCE in CEO Bob Bakish, who CNBC reports will NOT be on the Earnings Call today at 4;30pm EST, seeming to signal definitively that the 8 year CEO of the vaunted Hollywood studio and broadcaster is indeed OUT. It has also been reported by the Wall Street Journal, Variety, and others that the board may name a team of executives from Paramount to serve as interim CEO.
#EntertainmentNews #StockMarketNews #paramount #paramountplus #paramountmerger
Thumbnail art by @JFG

Пікірлер: 114

  • @sebastiantrias1529
    @sebastiantrias1529Ай бұрын

    If they can only do this with Iger.

  • @wesmcinerny4524

    @wesmcinerny4524

    Ай бұрын

    More bad Bobs.

  • @peterparler3246

    @peterparler3246

    Ай бұрын

    Bob bakish is not from the small hat tribe like Iger

  • @wesmcinerny4524

    @wesmcinerny4524

    Ай бұрын

    @@peterparler3246 What's that supposed to mean?

  • @SumDumGy_formerly_Tim_Walden

    @SumDumGy_formerly_Tim_Walden

    Ай бұрын

    They who? Those who fired Backish were the Board who didn’t support him. Iger’s Board is hand picked by him and support him unconditionally.

  • @Puzzoozoo

    @Puzzoozoo

    Ай бұрын

    @@wesmcinerny4524 Who do you think has control of the major parts of Hollywood? Think about it or a bit.

  • @ohforthelove74
    @ohforthelove74Ай бұрын

    What they have are a bunch of FORMERLY VIABLE properties. They managed to sink Trek, a franchise with some of the oldest and most loyal fans in the world. There's no limit to what they can destroy.

  • @thanakonpraepanich4284

    @thanakonpraepanich4284

    28 күн бұрын

    So carving up their IP catalog and sold in separate pieces won't get enough money back?

  • @joshuaturnage5243

    @joshuaturnage5243

    23 күн бұрын

    ​@@thanakonpraepanich4284 of course they won't get their money back. When you have to ask permission from other companies if you can use certain characters or ships or plot lines for your own use. It's always going to wind up costing too much or in legal court. That's like selling the paton rights of car parts of a Mercedes Benze. It's a stupid idea. For years Star Trek has been under one umbrella called Paramount now it's been split and may never go back to the good old days.

  • @hamdinger7145
    @hamdinger7145Ай бұрын

    Fire Alex Kurtzman

  • @Slitheringpeanut

    @Slitheringpeanut

    Ай бұрын

    And give him Star Trek as he leaves? Yeah, that's a great idea... You don't think they'd have done it with they could already?

  • @Zamo666
    @Zamo666Ай бұрын

    That difference between having YES men/women and caring about your investment.

  • @funkytownmonkeypimps6716
    @funkytownmonkeypimps6716Ай бұрын

    Whack-a-bob at this point

  • @themalcontent100
    @themalcontent100Ай бұрын

    Shareholder confidence? I ask what shareholders? It's one step away from being private.

  • @colorin81colorado
    @colorin81coloradoАй бұрын

    DEI is killing them all, one CEO at a time... This earning call was even shorter than Qui Gon Jinn and Obi Wan Kenobi's talks with the Trade Federation in the Phantom Menace!

  • @Muck006

    @Muck006

    29 күн бұрын

    DEI = woke = rebranded COMMUNISM ... and communism ALWAYS needs to DESTROY before they "take over", because they cant work in democracy and compete in a "competitive" setting. "Making profits" is ILLEGAL in communism and thus ideologues of that type are NEVER TRAINED TO CONSIDER THAT!

  • @ghostprojekt
    @ghostprojektАй бұрын

    I don't blame Paramount for speedrunning Bakish's firing, they're on a very dire situation. To paraphrase a comment I read on another video: "If Disney has been shooting itself in the foot then Paramount has been stabbing itself in the gut"

  • @Marinealver

    @Marinealver

    Ай бұрын

    I believe sepeku would have been more entertaining.

  • @Muck006

    @Muck006

    29 күн бұрын

    Why did this take so long? Because ALL OF THEM are REBRANDED COMMUNISTS and do not dare speaking up.

  • @perunarieska9182

    @perunarieska9182

    29 күн бұрын

    @@Marinealver *sudoku

  • @marqod1437

    @marqod1437

    10 күн бұрын

    Difference being Disney is maimed but could survive, and Paramount is much more touch and go?

  • @jray23
    @jray23Ай бұрын

    They fired the wrong Bob….. again!!!

  • @Marinealver

    @Marinealver

    Ай бұрын

    Nah, they just haven't fired both Bobs yet!

  • @ChrisS-no3ft
    @ChrisS-no3ftАй бұрын

    I'm just wondering what this will mean for Star Trek. Its an absolute woke abomination to Gene Roddenberry's vision. If someone can take over that actually will get rid of Alex Kurtzman, PLEASE PLEASE PLEASE DO!

  • @colorin81colorado

    @colorin81colorado

    Ай бұрын

    Yes, yes, yes... Get rid of Alex Kurtzman... I'm sure Kathelene Kennedy will love to hire him for Lucasfilm!

  • @marqod1437

    @marqod1437

    10 күн бұрын

    ​@@colorin81coloradoIf Star Wars wasn't already dead, that would more than finish the job.

  • @davemckansas4654
    @davemckansas4654Ай бұрын

    They mentioned a 3% (or something) increase in Q1, but didn't they LOSE money in all 4 Quarters of 2023? Lifting a ship 3% off of the ocean floor is still a sunken ship.

  • @colorin81colorado

    @colorin81colorado

    Ай бұрын

    Great point!

  • @NolanTheTugboat
    @NolanTheTugboatАй бұрын

    If I were a paramount stockholder, I would be dumping it, right now.

  • @Marinealver

    @Marinealver

    Ай бұрын

    Short Baby SHORT!

  • @akumaking1
    @akumaking1Ай бұрын

    When all of these companies finally get a permanent reality check and stop living in the woke fart-huffing hallucinations?

  • @totomen666

    @totomen666

    Ай бұрын

    they can't or OF models on twitter gonna call them bigots and sexists, and these old white men don't love that - so IP gonna tank

  • @JohnDoe-vm5rb

    @JohnDoe-vm5rb

    Ай бұрын

    The second Blackrock, vanguard and the other investment firms stop doing social credit score funding

  • @abstuli1490

    @abstuli1490

    Ай бұрын

    Disney doesn't need to make money as long as BlackRock, Vanguard and State Street promise to spend your pension money on Woke companies that don't make money.

  • @Sacto1654

    @Sacto1654

    Ай бұрын

    @@JohnDoe-vm5rb I think BlackRock, Vanguard, Fidelity, State Street and Blackstone are now realizing their aggressive pushing of ESG/DEI may soon cause what amounts to a slightly smaller version of the 2008 Lehman Brothers collapse. Get ready for a possible 45-50% "haircut" of equities value due to this isue.

  • @thanakonpraepanich4284

    @thanakonpraepanich4284

    28 күн бұрын

    @@JohnDoe-vm5rb That could take until 2026 at least assuming Biden lost the November Election. It could happen earlier if Saudi's and Qatar's sovereign funds come calling to make withdraws and they don't have enough cash.

  • @dragonofdragons1720
    @dragonofdragons1720Ай бұрын

    I will not be surprised if Paramount files for bankruptcy this year

  • @AlbertusMagnus_44
    @AlbertusMagnus_44Ай бұрын

    My first reaction is, they’re spending a lot of time congratulating themselves before they fire people for poor performance. Weird. Are all such meetings orgies of self-worship? 😒

  • @Marinealver

    @Marinealver

    Ай бұрын

    It's all politics. I don't believe in the whole "Everything is Political" but when you get up to a certain monetary value it becomes Political.

  • @Muck006

    @Muck006

    29 күн бұрын

    @@Marinealver It is "procedure/politeness" ... and prevents self-cleansing.

  • @jamesstone1493
    @jamesstone1493Ай бұрын

    Most was we have been together for a long time, please don’t Fire us!!!!!!

  • @jamesstone1493
    @jamesstone1493Ай бұрын

    P.S. Bob Iger take notes as this might be your call next year!!!!!

  • @USSRBot
    @USSRBotАй бұрын

    Like I said yesterday prerecorded and sped up.

  • @leftenentcrittendon3134
    @leftenentcrittendon3134Ай бұрын

    How the hell did the interrupter get here?!

  • @Muck006
    @Muck00629 күн бұрын

    "First of we want to thank BOB ..." - too many "Bobs" in leadership positions of these companies - they all sound like Iger too

  • @XVa-uj8m
    @XVa-uj8mАй бұрын

    The Warner proxy vote is incoming. Any advice on how to vote or would Ron be better to ask?

  • @Chiyochanazu
    @Chiyochanazu29 күн бұрын

    Great... he still gets a lot of money in salary and the golden parachute. CEOs are overhyped for the good things and never take a fall for any damages.

  • @VorpalBunnysRevenge
    @VorpalBunnysRevenge28 күн бұрын

    Saying you look forward to addressing everyone is not a promise to actually address anyone...

  • @S1337theoddoneout-ip9xc
    @S1337theoddoneout-ip9xcАй бұрын

    2:20 yeah, hits like woke trek discovery, ST suck new worlds and ST pukard.

  • @Muck006

    @Muck006

    29 күн бұрын

    *puke-hard

  • @stephanieolsen8148
    @stephanieolsen8148Ай бұрын

    That's a don't let the door hit ya on the way out... Wow!

  • @marshmadon6975
    @marshmadon6975Ай бұрын

    And yet Kathleen Kennedy remains. 🤦‍♂️

  • @ABoyandHisDog-pd3lb
    @ABoyandHisDog-pd3lbАй бұрын

    I always thought Tom Cruise was part owner of Sky Dance. Not sure where I got the idea from though.😅

  • @mcribprime6594
    @mcribprime6594Ай бұрын

    What about WBD, down 10% today in the stock market WTF!!! 🤬

  • @thanakonpraepanich4284

    @thanakonpraepanich4284

    28 күн бұрын

    Wasn't Discovery decided to close down WB and just sell back catalogs? Still there but no longer producing new contents.

  • @stevepowden4560
    @stevepowden4560Ай бұрын

    I'm sure shareholders were ecstatic about a 9 minute CC, and no questions taken, with all the uncertainty and chaos the company is facing.

  • @robertaistrope9602
    @robertaistrope960229 күн бұрын

    If they have the "greatest" property's in the world then why are they letting Kurzman destroy the best of it "Star Trek"??

  • @varkesh456
    @varkesh45627 күн бұрын

    Just catching up on this news now and how can you have faith from that earnings call. It's like the older movies where all the good stuff that explains what happens, happened off screen and with little explantion. All this group said is we have worked togther we have a plan but no details bye...not even a dating profile hi, i am....i have done this sort of thing in the past. To me i think the bob fireing happened superfast and they have no plan...they could have just dodged most hard questions with we are still analysing the data and even been partially honest.

  • @Sacto1654
    @Sacto1654Ай бұрын

    I'll say this: both Paramount Global and Warner Bros. Discovery are approaching the point of financial bankruptcy. That has to scare the government of California to no end, because these two entertainment companies are huge contributors to the California economy.

  • @terileo1203

    @terileo1203

    Ай бұрын

    Warner Bros can't afford the new $ for the NBA deal. These are 2 dead man walking companies b/c of their debt.

  • @RossM3838
    @RossM3838Ай бұрын

    Quiet on the set hasn’t helped them either. Brian Robbins is part of the problem and from him there will be no change nor apology nor admission of anything. He is head of Nickelodeon. Does Nickelodeon even exist other than to play reruns of friends and sponge bob?

  • @Muck006
    @Muck00629 күн бұрын

    Did "Bob" get a bag of money for "leaving"?

  • @kytaem
    @kytaemАй бұрын

    Paramount has Serie A and Champions League football, this concerns me

  • @kentobias4995
    @kentobias4995Ай бұрын

    I actually Think Paramount had the Most Exciting Upcoming Movie Slates 🤩 at Cinemacon with Movies targeting Young Audiences, But it seems whichever Companies Buyout Paramount, there Will Continue to Be Lack of Leadership in regards to Franchises.

  • @Darkwintre
    @DarkwintreАй бұрын

    So they're truly screwed then?

  • @derekdouglas6757
    @derekdouglas6757Ай бұрын

    The less you hear from Tom the better!

  • @SumDumGy_formerly_Tim_Walden

    @SumDumGy_formerly_Tim_Walden

    Ай бұрын

    Amen

  • @nathansolo2605
    @nathansolo260527 күн бұрын

    Firstly you scrap your streaming service and sell your IP content to other streaming services e.g. Netflix. Then look at what has gone wrong with your IPs like Star Trek and correct the problems e.g. fire Alex Kurtzman.

  • @SumDumGy_formerly_Tim_Walden
    @SumDumGy_formerly_Tim_WaldenАй бұрын

    Optimize your streaming strategy all you like, folks. I’ll still refuse to contribute to that industry. Until studio heads come to the realization that it’s streaming almost exclusively destroying the Hollywood film and television behemoth, you will continue to fail.

  • @TheWolfBunny64
    @TheWolfBunny64Ай бұрын

    Uh-oh.

  • @stutteringguitarist
    @stutteringguitaristАй бұрын

    Faster and more awkward than a Mennonite honeymoon

  • @Ironcaster
    @IroncasterАй бұрын

    This last few years has been the era of the bob, and its time to end.

  • @ABoyandHisDog-pd3lb
    @ABoyandHisDog-pd3lbАй бұрын

    It has generally been my experience that people are either Creative types or Business types but it's exceedingly rare to find people who excel in both. Which is one of the reasons why I think what DC did by hiring a separate head of creative management and a head of fiscal/business management and essentially gave them equivalent authority to greenlight future productions. I bet the industry is just as curious as many of the rest of us as to see if that will end up becoming the new formula for running movie/entertainment studios or if it ends up being a failed experiment. But the way I see it, let the creatives do what they do best and Create, and let the business/numbers people do what they do best and manage efficiency through sound fiscal management and never the two shall intersect. The board can always override anything that seems to risky.

  • @MaverickX36

    @MaverickX36

    Ай бұрын

    Nice what you said. Problem is when both are infected with woke virus to the core.

  • @doomedhuh
    @doomedhuhАй бұрын

    Are they gonna make star trek legacy now?

  • @SumDumGy_formerly_Tim_Walden
    @SumDumGy_formerly_Tim_WaldenАй бұрын

    This video title should have been Tom Interrupts Everything.

  • @roystoyscomics1361
    @roystoyscomics1361Ай бұрын

    "But the important thing to focus on is Tony is back!". Obadiah Stane - Stark International "And here is my recommendation for this stock...SELL, SELL, SELL!". - Jim Kramer The Presidents Brothers Secretary's Executive Assistant's Assistant Intern has the following announcement...😂

  • @ryanbarker5217
    @ryanbarker521729 күн бұрын

    we're your new leaders, so please have confidence in us as we completely botch an earnings call....

  • @kcried1081
    @kcried1081Ай бұрын

    Wrong ceo

  • @antiquecardboard
    @antiquecardboardАй бұрын

    Don't these Paramount Execs have huge salaries? This is how they earn it? My goodness this is embarrassing. Hope their marble countertops help them sleep better at night.

  • @jplabrecque6708
    @jplabrecque670826 күн бұрын

    Go woke go broke

  • @georgeawestjr.9087
    @georgeawestjr.9087Ай бұрын

    Another one bites the dust 🪄. Stunner. LOL. 😁😂🤪🤣😆😄😊👌

  • @aurorauplinks
    @aurorauplinksАй бұрын

    I have a feeling that Paramount is going to crash because they arent going to make the right decisions in time. but i could be wrong.

  • @ryohoshi8445

    @ryohoshi8445

    Ай бұрын

    Honestly I kind of feel like it might be really just singular there--if they crash, it'd be because they didn't fire Bob Bakish sooner, since it sounds like he got fired because he either wasn't getting stuff done in a timely manner or if he was? He wasn't letting the board know about it. And with the speedrun? My bet is that nobody up top had confidence that he was getting deals done--and even an update like "Skydance isn't going to close the deal until we have THIS deal with Spectrum finalized, I am prioritizing working on that in hopes of getting that done by [date] at latest" would have been probably enough of a report to keep people happy.

  • @aurorauplinks

    @aurorauplinks

    Ай бұрын

    @@ryohoshi8445 I think he had a different vision then the owners of the company. I think he wanted to find a way to keep the company running without losing core assets that have high value. Where as the ownership wanted to just sell things off to generate the revenue in one off sales to dig out of the hole, I think he may have been concerned with what they would do once out of the hole, how they would continue to generate revenue and not just fall back in the hole with even less revenue making assets. I think, just a guess, he was looking to deal with elements of the company that werent making the money and were sinking t hem, and maybe for some reason the owners are unwilling to discard those parts alone? just a guess.

  • @jplabrecque6708
    @jplabrecque670826 күн бұрын

    Woke and brain dead is no way to go through life

  • @gusmlie
    @gusmlieАй бұрын

    Stop making woke garbage then.

  • @hamdinger7145

    @hamdinger7145

    Ай бұрын

    They can't

  • @Zanderguard
    @Zanderguard29 күн бұрын

    Hahahahaha

  • @AlbertusMagnus_44
    @AlbertusMagnus_44Ай бұрын

    🎶”Mamas don’t let your babies grow up to be Bobs…”🎶 It’s beginning to look like all the world’s problems can be traced to bozos named “Bob.” Hmmmm….. 😒

  • @elfuturomio
    @elfuturomio29 күн бұрын

    🤣

  • @Marinealver
    @MarinealverАй бұрын

    The only news better than Paramount CEO getting fired, would be Paramount filing for BANKRUPTCY!

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