Paramount Global’s new trio of co-CEOs laid out their vision for the Hollywood studio as the controlling shareholder, Shari Redstone, mulls a sweetened takeover offer from a buyer consortium led by Skydance and RedBird Capital.
Redstone addressed the investors as the meeting began, indicating the company’s most important goal was “driving value for all our shareholders,” as she put her support behind the studio’s new leadership.
“While we recognize that this is not a traditional management structure, we are confident that it will enable them to move quickly to implement best practices throughout the company to drive improved performance,” Redstone added.
The opened the way for the trio of executives – George Cheeks, president and CEO of CBS; Chris McCarthy, president and CEO of Showtime/MTV Entertainment Studios; and Brian Robbins, president and CEO of Paramount Pictures – to outline a “shared vision” for the studio.