Paramount’s board is preparing to fire Chief Executive Officer Bob Bakish as soon as Monday morning, Alex Sherman of CNBC reports, citing people familiar with the matter. The company reports its quarterly earnings Monday and Bakish won’t be on the call, sources told CNBC. The board is expected to lean on company division heads in lieu of a CEO while it negotiates a possible merger with Skydance Media, according to Sherman. The companies are in exclusive talks to pursue a deal until May 3, though that window could be extended, he added.
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