(Silver Screen Collection/Getty Images). He went on, "I dont believe in censoring art that was made historically, thats probably a mistake. Following is the unofficial transcript of a CNBC exclusive interview with Paramount Global CEO Bob Bakish on CNBC's "Squawk on the Street" (M-F 9AM - 11AM ET) today, Wednesday, December 7 th. If a series is working outside the U.S., whether its from the U.K., Australia orMexico, it has the ability to travel.. Our content and platform strategy is working and, with even more exceptional content coming this year, we expect to return the company to earnings growth in 2024.". "I am determined to act in the best interests of the company and all of its shareholders. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. How did he survive this trauma at age 55? Bakishs Bob Live discussions usually take place every four to six weeks. Legal Statement. "The group of trustees would have to make fiduciary decisions for the benefit of the trust and the companies it controls," Dauman told the conference. Redstone butted heads with Moonves who resisted her plan to merge both Viacom and CBS, which had been separate units controlled by Redstones late father, Sumner Redstone who passed away in August 2020. (Paramount Pictures/Sunset Boulevard/Corbis via Getty Images). Herzer's lawsuit filed in November 2015 challenged her removal as overseer of his health care. Robert M. Bakish is President and Chief Executive Officer of Paramount. This is all about leveraging our scale, she said. President & CEO, Paramount Media Networks / Chief Content Officer, Unscripted Entertainment & Adult Animation, Paramount+. ties with the late disgraced financier, Jeffrey Epstein. 2022 FOX News Network, LLC. Dauman's appointment as Redstone's successor as Viacom chairman was opposed by Shari Redstone, who had said in a statement that she wanted "a leader with an independent voice" rather than someone who was a trustee of her father's trust. We also have amazing formats, likeNCIS, The Challenge, and MTVs Shore franchise theseseriestravel well around the world,andthey also make great local content.. Redstone's lawyers called it a "baseless attempt to take discovery in service of building a record for the post-death trust contest she intends to bring." Redstone also sparred several times with his daughter, then president of National Amusements and vice chairwoman of Viacom and CBS. Despite the streaming division's profitability struggles, subscribers continued to surge with Paramount+ adding nearly 10 million in the quarter to reach a total of almost 56 million. He serves on the boards of both schools and is also a Director on the Board of AVID Technologies, a NASDAQ-listed company. In fact, he claimed to have coined the phrase "content is king," often attributed to Bill Gates. AndBrian Robbins oversees Paramount Pictures and Nickelodeon globally, in addition to all kids content across streaming, with Jules Borkent responsible for Nickelodeon in international markets. Redstone poses with Megan Fox at the 2014 LA premiere of "Teenage Mutant Ninja Turtles. You've successfully subscribed to this newsletter! Paramount CEO Bob Bakish declared Monday that his company will not censor its old content for material that may offend modern audiences. Prior to the recombination of Viacom and CBS, Bakish was the President and Chief Executive Officer of Viacom since December 2016. had to sell a fifth of his family's stake. The media company that is home to MTV, CBS, Nickelodeon and Showtime renamed itself after its movie studio, Paramount, late Tuesday. But in late January 2016, Viacom said in a regulatory filing that Redstone's annual pay had been cut to $2 million in fiscal 2015, from $13 million the previous year. September 14, 2022 11:59am. His education includes Columbia University, Fu Foundation School of Engineering and Applied Science. (Cruise denied he had been fired, insisting he had quit.) or redistributed. Jika diperluas, akan tampil daftar opsi pencarian yang akan mengganti input pencarian agar sesuai dengan pilihan saat ini. In another high-stakes takeover battle, his $10 billion bid outmuscled fellow media moguls Barry Diller and John Malone for Paramount Communications in 1994. According to a new regulatory filing released on Tuesday, Buffett's Berkshire Hathaway (BRK-B) boosted its stake in Paramount Global, purchasing an additional 2.4 million shares worth more than $40 million in the fourth quarter of 2022. thanks in part to strong gains in advertising. The network is home to brands including MTV, Nickelodeon, Comedy Central, BET, and Channel 5. As head of a theater chain, Redstone recognized the importance of content. Paramount's Bob Bakish and Pam Kaufman Courtesy of Paramount (2) Paramount wants to increasingly approach its networks, streamers and other assets with a truly global . ", Tom Cruise starred as Lt. Pete "Maverick" Mitchell in Paramount Pictures' "Top Gun," directed by Tony Scott. Bakish joined Viacom in 1997, and held a series of senior corporate, sales and development positions at the company. And even with more exceptional content coming this year, we expect to return . At Variety's Entertainment Summit, Bakish started with company's transformation. They, in this case, includesPam Kaufman, president and CEO of international markets, global consumer products & experiences, andthe executives overseeing the companys big free-to-air TV networks in the U.S. (CBS), Australia (Network 10), the U.K. (Channel 5), Argentina (Telefe) and Chile (Chilevision), who spoke during a recent Bob Live, a regular series of internal Paramount events for employees that feature Bakish and other execs talking about their businesses. Six weeks later, he banished Herzer, whom he had dated in the 1990s and had been running his daily operations, according to the magazine. His thesis is the real opportunity is about piloting in the U.K. as a step towards a global franchise, not necessarily trying to launch a global franchise out of the gate, which has often proven difficult. ViacomCBS chief Bob Bakish was forced to apologize to staff on Wednesday after statements he made during a company-wide town hall about return-to-work plans were seen as insensitive by some employees. ViacomCBS Inc. (VIAC) Q3 2021 Earnings Conference Call November 4, 2021 08:30 AM ET Company Participants Anthony DiClemente - Executive Vice President, Investor Relations Bob Bakish -. Subscribe for full access to The Hollywood Reporter. In an interview with The New York Times, Karmazin said he got tired of continuing reports about sour relations with the chairman. Bakishs comments came roughly 40 minutes into an hour-long talk, according to three people with knowledge of his remarks. Something like $5-to-700 million, which is now worth about $8 billion.". We borrowed some money. During their more than half-century of marriage, which ended in divorce in 1999, they had two children, son Brent and daughter Shari. Viacom and CBS merged a year ago. But there is room for more programming to travel from and to various places as long as executives keep an eye out for opportunities, Kaufman said. Got a confidential news tip? He was recently elevated from acting to permanent CEO. He holds 214 units of Avid Technology stock valued at $16,534,801 and has sold AVID shares worth $4,797,478 in the last 13 years. 1 box office hits in early 2022 (Sonic the Hedgehog 2, The Lost City, Scream, Jackass Forever) then soared into the stratosphere with Top Gun: Maverick, which grossed $1.5 billion worldwide. It takes impatience to drive you to succeed. Paramount Global CEO Bob Bakish reiterated Tuesday that Showtime is no longer capable of standing on its own within the company. Still, Karmazin became president and chief operating officer of Viacom, but in June 2004, he resigned without telling Redstone directly of his decision. For the refocus, he had a key ally in Kaufman, whom he tapped for her new role in late July and who knew the new formula from experience. Quotes displayed in real-time or delayed by at least 15 minutes. However, some staffers believed that the ViacomCBS chief meant that the pandemic and not the shifts in workplace culture sparked by the crisis was the social experiment in question. He has net worth is estimated to be $21.5 Million dollars. Read Next: Twickenham Studios Chair Sunny Vohra Takes Multi-Million Dollar Stake in Media Fund APX Group, Will Hollywood Hit Cannes? All Rights Reserved. Also reportedly being shopped around is NFL Network and possible suitors could include Fox Corp, the parent company of FOX Business Network, bankers say. In his 2001 book, "A Passion to Win," he recalled waking up after midnight smelling smoke and making "the classic mistake" of opening his door. ViacomCBS chief Bob Bakish was forced to apologize to staff on Wednesday after statements he made during a company-wide town hall about return-to-work plans were seen as insensitive by some employe He also has a wife and kids. Its pretty cool, he said. We want to hear from you. The judge appointed Shari Redstone to oversee her father's health care. Beneficiaries included cancer research, autism, education, the arts and burn victims. "We sold about everything we had," he recalled in the 2012 CNBC interview. Walt Disney With Redstone's determination and his quest for content, National Amusements accumulated shares of Viacom International, the entertainment distribution company. Shari called the allegations "baseless.". Sumner Redstone died Tuesday at age 97, National Amusements said in a statement Wednesday. When Shari Redstone combined the two companies, she appointed Bakish CEO of ViacomCBS which now controls some of the most well-known brands in media such as Paramount Pictures, CBS News, Comedy Central and MTV. The filing also mentioned thatBakishscompensation for his role as acting CEO would have been up to $12 million. Trusting Trump would be a Our free-to-air business is really strong, Kaufman highlighted. Already a member? He repeatedly referred to her as "f------ b----.". 2023 The Hollywood Reporter, LLC. Investors apparently weren't keen on Here's my latest. ViacomCBS investigated an allegation of sexual misconduct by its chief executive Bob Bakish, according to a new report. And frankly, if it is true, that Disney is getting out of broadly appealing fare, it gives Paramount+ . He serves on the boards of both schools and is also a Director on the Board of AVID Technologies, a NASDAQ-listed company. He pointed to CBS season 2 of the BBC remake Ghosts. Alexandra is a Senior Entertainment and Media Reporter at Yahoo Finance. Robert M. Bakish is President and Chief Executive Officer of ViacomCBS. relinquished his position as Amazon CEO on Monday to Andy Jassy. In a subsequent court filing, Redstone's lawyers said he had revised his will in October 2015 to cut Herzer out of $70 million of his fortune, including his $20 million mansion. in the latest quarter, and eight times that of Under pressure from shareholders because of reports of Redstone's declining health and mental competency, the CBS board on Feb. 3, 2016, announced his resignation as executive chairman and appointed CEO Les Moonves as his successor. Viacom chairman Sumner Redstone in screening room at National Amusements. 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