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Paramount Global Set to Unveil New Leadership Structure; Anxiety Runs High on Earnings Eve

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Paramount Global Set to Unveil New Leadership Structure; Anxiety Runs High on Earnings Eve

As turmoil continues to surround the future of Paramount Global, details surrounding interim leadership and its proposed Skydance deal are coming to light, multiple sources told Variety.

Sunday was a consequential day in Shari Redstone’s ongoing exclusive bargaining window with David Ellison‘s Skydance, one that would see the Hollywood scion take majority ownership of Paramount Global and its owner National Amusements Inc. Skydance offered its “best and final” offer to Redstone on Sunday, sources added.

On the eve of its quarterly earnings call, two insiders familiar with Paramount Global said the board is expected to announce a new leadership committee to replace ousted CEO Bob Bakish. Expected to be named to these leadership roles are Paramount Pictures CEO Brian Robbins, CBS chief executive George Cheeks and MTV Entertainment Group President Chris McCarthy, the sources said.

Multiple insiders close to Paramount’s ongoing sales process said that letting Bakish go was the right move, but the new leadership structure is problematic at this fragile moment. There will not be a sole leader guiding the corporation through a potential sales process, said the insiders, and Cheeks, Robbins and McCarthy are not accustomed to collaboration across their portfolios. All details that are raising internal and external anxiety. There is, of course, Redstone — who is being closely watched by Wall Street and the media sector.

A third source familiar with the company said Redstone has been resolute in preferring the Skydance bid, which promises to keep her family media empire in tact and on track to provide future shareholder value. Or, she could appease some of her shareholders and evaluate a competing offer from Apollo and Sony Entertainment — a deal that would call for major structural changes, with asset liquidation and job losses likely. And that’s if that scenario could survive inevitable regulatory scrutiny.

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Heading into earnings, the company has yet to disclose whether its network carriage deal with Charter, the country’s second largest cable operator next to Comcast, has been renewed. It is set to expire April 30.

The flurry of weekend activity is sure to weigh heavy on Paramount Global’s share price on Monday, and change the economics of any potential sale. Paramount Global is scheduled to report first quarter 2024 results tomorrow after market close. The earnings call with analysts — sans Bakish but possibly with the new leadership team — is set to start at 4:30 p.m. ET.

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Lebanese influencer organises World Cup event amid Israel’s attack on Leban

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Lebanese influencer organises World Cup event amid Israel’s attack on Leban
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As Israel’s war on Lebanon rages, hundreds gather in Rmeileh by Sidon Gate to watch the 2026 World Cup. Organised by influencer Bilal Haddad, the fan zone offers food trucks, shisha and family activities, giving people a rare chance to relax. Al Jazeera’s Justin Salhani went to check it out.

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On the South Lawn, a UFC fighter’s victory frames an unusual White House scene

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On the South Lawn, a UFC fighter’s victory frames an unusual White House scene

WASHINGTON (AP) — Mark Schiefelbein has been based in Washington, D.C., with AP for about three years, and before that spent a decade in Beijing at AP’s China bureau.

Here’s what he had to say about this extraordinary photo.

Why this photo?

This was an event that had never happened before in the 250-year history of the United States and may never happen again: a night of mixed martial-arts cage match brawls on the South Lawn of the White House, with bloodied competitors battling it out in front of the president, vice president, and other leaders of the country. AP had other photographers ringside at the event focusing more on the fights themselves. So I felt my role was to capture the context of the evening — the location, the people in attendance, the environment.

How I made this photo

A small group of other photographers and I, the White House press pool, had been allowed to photograph part of the evening from a position in the stands directly opposite the White House. I was carrying four cameras with a variety of lenses from 12 mm to 300 mm. This let me capture everything from ultra-wide views of the “claw” structure built for the fights, to close-ups of leaders and celebrities in attendance. I had been following Diego Lopes with my longest lens as he moved around the ring celebrating his win over Steve Garcia. When I saw him start to climb onto the cage, I immediately realized there might be a possibility of a picture like this and zoomed out to capture more of the scene.

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Why this photo works

The White House is surely one of the most recognizable buildings in the world. The columns of the South Portico, the fighter standing with arms and legs spread wide in celebration, and the octagon padding of the UFC ring tell an entire story as your eyes move from top to bottom of the frame. With Lopes standing with his back to the camera, facing the White House, it becomes less a photo of him and more about the evening, the event, and the spectacle. It was fortunate that it was after nightfall, so things that might have been distracting, like the Marine Band and spectators seated behind the ring, are mostly in the dark. Only the key elements – the White House, Lopes, and the ring are lit up.

For more extraordinary AP photography, click here.

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British Prime Minister Keir Starmer faces potential leadership challenge from newly-elected Andy Burnham

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British Prime Minister Keir Starmer faces potential leadership challenge from newly-elected Andy Burnham

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Andy Burnham has officially won his special election and regained a seat in Parliament, setting him up to challenge the deeply unpopular Keir Starmer as the leader of the Labour party and as prime minister.

Burnham, currently the mayor of Greater Manchester in northwest England, won a seat in Makerfield and came away with 55% of the vote in a field of more than a dozen candidates, according to The Associated Press. The runner-up was Rob Kenyon of Reform UK, a right-wing populist party, who received more than 9,000 fewer votes than Burnham.

Burnham last served as a member of Parliament in 2017 but strongly implied in his victory speech that he is returning with the intention to lead the United Kingdom.

“Everyone knows that politics isn’t working. Everyone can feel that the country isn’t where it should be. Tonight could, just could, be the turning point,” he said, according to the AP. “This result will bring about a country that works fairly for everywhere and for everybody.”

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TRUMP ALLY NIGEL FARAGE DEALS MAJOR BLOW TO STARMER IN LOCAL UK ELECTIONS AS RESIGNATION CALLS MOUNT

Britain’s Labour party candidate Andy Burnham speaks to supporters after the Makerfield by-election in Ashton in Makerfield, England, on Friday, June 19, 2026. (Jon Super/AP)

This special election, called by-elections in Britain, was unusually significant because the area’s Labour MP, Josh Simons, intentionally resigned to allow Burnham to win the seat and pursue leadership.

The potentially outsized impact of this election was juxtaposed with the strange scene that unfolded when all the candidates gathered on Friday morning to hear the results. Burnham stood in between an independent candidate dressed in a fox costume and another candidate known as “Count Binface”.

As his name suggests, “Count Binface,” whose real name is Jonathan David Harvey, was wearing a trash can on his head and regularly runs in U.K. elections to advocate for increased voter turnout.

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Starmer congratulated Burnham in a social media post on X, saying voters “chose Labour’s campaign of hope and optimism over division and hate.”

When asked about Burnham’s intentions to oust him as leader, Starmer said he will fight to remain prime minister, a position he has held for nearly two years.

“I’ve said repeatedly I’m not going to walk away from that,” Starmer told reporters.

Labour party candidate Andy Burnham, center, stands with other candidates on the podium at the Edge Wigan, awaiting the Makerfield by-election result announcement in Wigan, England, on Friday, June 19, 2026. (Jon Super/AP)

AS EPSTEIN-LINKED APPOINTMENT SPARKS BACKLASH, UK PM STARMER FACES PARTY REVOLT AMID RESIGNATION CALLS

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Starmer led the Labour party to a landslide victory in July 2024 and ever since, his popularity has been eroding thanks to a persistently high cost of living, an anemic economy and a scandal over his willingness to accept gifts from wealthy donors.

Last September, Starmer was slammed for appointing Peter Mandelson as the British ambassador to the United States, when it was known as early as 2019 that Mandelson had a friendship with convicted child sex offender Jeffrey Epstein. Following an enormous public backlash, Mandelson was quickly dismissed from his post.

With Starmer as leader, Labour is increasingly losing liberal-minded voters to the Green Party, while also facing stronger challenges by Reform UK, a Nigel Farage-led party that advocates against mass migration and in favor of tighter border controls. Farage, an ally of U.S. President Donald Trump, said he was disappointed by Burnham’s victory.

Burnham is expected to head to London to be sworn in as soon as Monday. Under the British parliamentary system, the governing party can hold leadership elections in the middle of the term. The winner of such a contest can become prime minister without there having to be a national election.

British Prime Minister Keir Starmer awaits Switzerland’s Federal President Guy Parmelin on the sidelines of the G7 summit, in Evian-les-Bains, France, on Tuesday, June 16, 2026 (Isabel Infantes/Pool Reuters via AP)

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Under Labour rules, a lawmaker can challenge the leader if they win the backing of a fifth of their party’s members in the House of Commons. Burnham has enough lawmakers on board to trigger a leadership contest, according to a report from The New Statesman.

According to the AP, Culture Secretary Lisa Nandy said Burnham and Starmer will “have a conversation about what comes next” in the next few days.

The Associated Press contributed to this report.

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