Viacom CEO Bob Bakish is weighing a change at the top the media giant’s struggling Paramount Pictures, The Post has learned.
Bakish is huddling with executives of Viacom and the 105-year old Hollywood studio about changing its leadership, several sources familiar with the situation said on Tuesday.
Paramount is led by Brad Grey, who has been the studio’s chief executive since 2005.
While Grey had success early on in his tenure, Paramount’s financial and box office performance in recent years has struggled. It has finished in sixth or seventh place among its studio rivals in total gross in each of the last five years.
So far in 2017, it sits in fifth place, according to BoxOfficeMojo.
Paramount has been hurt by box office disappointments like “Ben-Hur,” and “Ghostbusters.”
In one recent very public embarrassment, Paramount in September took a $115 million impairment charge related to the expected bad box office performance of “Monster Trucks” — four months before the much-delayed movie even opened.
“Monster Trucks,” with its reported $100 million-plus budget, took in roughly $60 million globally.
Paramount lost $445 million in the fiscal year ended Sept. 30.
Ironically, the studio garnered a stunning 18 Oscar nominations this year.
Despite his box office shortcomings, Grey is close with Hollywood talent like Leonardo DiCaprio, and he has kept on good terms with Sumner and Shari Redstone, Viacom’s controlling shareholders.
Bakish’s talks about changing the leadership at Paramount come just days after word spread that Viacom General Counsel Mike Fricklas was departing.
In an interview with Bloomberg earlier this month, Bakish said he talked to Grey about ceding some of his slate to Viacom’s cable networks, which will come up with movie ideas.
Grey initially balked at the idea, but Bakish bore in.
“I have some examples,” Bakish told Grey.
“You know what, you’re right,” Grey replied.
Speaking on Viacom’s earnings call Bakish also threw some shade at Grey.
“I fundamentally believe that leadership needs to be accountable,” said Bakish. “I’m accountable to the board. I expect the people that work for me to drive the company forward, I will hold them accountable for that.”
The recently minted CEO said his management team is “now turning the page on the strategy for Paramount” beginning with being “increasingly focused on execution.”
Hollywood insiders on Tuesday said whispers about Paramount were growing louder.
“The drum beat on Brad is very loud,” several sources confirmed.
If Bakish decides a change is needed, Paramount Television boss Amy Powell is a candidate to run the film studio on an interim basis — alongside Viacom Chief Financial Officer Wade Davis — as is Viacom Chief Operating Officer Andrew Gumpert and others, sources said.
Grey, whose contract ends in 2020, declined comment, as did reps for Viacom.
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