Paramount leadership team to announce job cuts, streaming JV plans at annual meeting

Paramount's three leaders will unveil a plan at the shareholders meeting on Tuesday in the event a sale of the company doesn't occur.

Paramount's leadership will present a plan on Tuesday at the company's annual shareholder meeting that lays out a future for the company if a sale doesn't happen.

The leadership — comprised of three executives since Bob Bakish stepped down — will map out a plan that includes job cuts and a potential streaming partnership.A view of Paramount Studios's water tank as SAG-AFTRA members walk the picket line outside during their ongoing strike, in Los Angeles, California, U.S., September 26, 2023.Tuesday in the event a sale of the company doesn't happen, according to a person familiar with the matter.

The presentation comes at an awkward time. Earlier this week Paramount agreed to the framework of merger terms with a consortium comprised of David Ellison's Skydance Media and private equity firms RedBird Capital and KKR,. The deal is still awaiting approval of Paramount's controlling shareholder, Shari Redstone, who owns National Amusements, which owns 77% of class A Paramount shares.

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