Private equity vs billionaires: Fight for Ten owner claims first scalp
Bob Bakish has stepped down as chief executive of Paramount Global, the owner of Network Ten. With billionaires battling for ownership abroad, Ten watches on.
Shari Redstone, the billionaire media scion who controls hallowed Hollywood production studio Paramount, turfed out the media company’s long-term chief executive on Monday (Tuesday AEST) – the latest chapter in a messy merger battle for the owner of Australia’s Network Ten.
Bob Bakish, Redstone’s loyal, long-time lieutenant and chief executive of Paramount Global, stepped down immediately, to be replaced by an “office of the CEO” run by three top Paramount executives, the company said in a statement.
Sam Buckingham-JonesMedia and marketing reporterSam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.
