Paramount Board Members Depart Amid Merger Talks and Job Cuts

Four Paramount Global board members - Ostroff, Seligman, Terrell, and Klieger - will step down at the upcoming annual meeting in June.

The departures come amid exclusive talks between Paramount and David Ellison's Skydance Media over a potential merger deal.

The board members stepping down were part of the independent committee evaluating buyout offers for Paramount.

CEO Bob Bakish earned $31.3 million in compensation in 2023, a slight decrease from $32 million the prior year.

Paramount is pushing cost reductions in 2024, including estimated cuts of 800 US jobs.