Paramount Co-CEOs Secure Enhanced Severance and Bonuses Amid Potential Sale

Executives to receive substantial payouts under new compensation plans as merger talks progress with Skydance Media and other bidders.

George Cheeks, Chris McCarthy, and Brian Robbins are now part of Paramount's Executive Change in Control Severance Protection Plan.
The plan provides severance payments equal to twice their annual salary and target bonuses if terminated post-sale.
Each co-CEO will also receive a prorated annual bonus of $2.75 million for their tenure.
Paramount's controlling shareholder, Shari Redstone, is evaluating a merger offer from Skydance Media and other interested parties.
HR Chief Nancy Phillips also received a contract extension with increased salary and bonuses.