Matrix Asset Advisors Slams Paramount Over Bob Bakish Exit: ‘Everything About Today’s Update Is a Disgrace’

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“This is a major unforced error that will cost the company upwards of $50 million,” the firm’s chief investment officer David Katz tells TheWrap

Paramount (Credit: Getty Images)
Paramount (Credit: Getty Images)

Matrix Asset Advisors slammed Paramount Global on Monday after it announced CEO Bob Bakish would depart the company amidst ongoing merger talks with David Ellison’s Skydance Media.

The firm, which owns which owns 355,445 Paramount shares on behalf of its clients and itself and has over $1 billion in assets under management, also criticized the company for not providing guidance or answer analysts questions during its first quarter earnings call.

Chief investment officer David Katz told TheWrap that Bakish is being “removed because he was fighting for an equitable deal for all shareholders rather than for doing a one-sided deal for Redstone at the expense of the other 90% of the shareholders.” 


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