Paramount Co-CEOs Secure Bonuses Amid Skydance Merger Plans

Paramount's co-CEOs will receive bonuses and severance even if they leave their positions before the merger with Skydance Media is finalized.

Paramount Global's board has approved bonus payouts for co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins, regardless of their employment status at the time of the Skydance merger.
The co-CEOs are entitled to resign and receive severance if their roles are diminished, according to new provisions in their employment agreements.
Each executive will receive $3 million in restricted share units as part of their compensation package.
Paramount aims to cut $500 million in annual costs, including a 15% reduction in its U.S. workforce, ahead of the merger's expected completion in 2025.
The merger with Skydance Media, which is set to be finalized in the first half of 2025, will bring significant changes to Paramount's leadership structure.