Paramount co-CEO McCarthy to leave company, Variety reports

With the FCC having approved the tie-up between Skydance and Paramount (PARA) (PARAA), Paramount Global co-CEO Chris McCarthy will exit the media giant, Variety’s Todd Spangler reports, citing a company source. McCarthy assumed the co-CEO position in April 2024 following the ouster of ex-CEO Bob Bakish, the author notes. Following the completion of the merger, Skydance CEO David Ellison will become the CEO of the combined entity, to be known as Paramount Skydance Corp., the author says.