Paramount Global chief Bob Bakish has left the entertainment giant after eight years at the helm, the company announced Monday.
The company said in a press release Bakish is stepping down from his role as CEO and from the board of directors.
Bakish's departure comes as the board is pursuing a sale of the company to Skydance Media. Sources told FOX Business that Bakish clashed with non-executive chair Shari Redstone over the terms of the deal which were unfavorable for common shareholders, per reports.