Paramount World has reached a brand new contract cope with DeDe Lea to run its authorities relations efforts.
The brand new settlement, set to run to Dec. 31, 2028, comes forward of the studio merging with Skydance Media and a brand new Trump administration in Washington, D.C. presumably opening the best way for stepped-up business consolidation. In 2019, when CBS and Viacom merged to create then-named Viacom CBS, Lea grew to become government vp world public coverage and authorities relations.
She reported to Bob Bakish as he grew to become president and CEO of ViacomCBS, the identical titles he held at Viacom. In its newest incarnation, Paramount World — led by co-CEO trio George Cheeks, Chris McCarthy and Brian Robbins — faces one other spherical of restructuring forward of an anticipated merger with Skydance Media in 2025.
That transfer follows Paramount World controlling shareholder Shari Redstone reaching a cope with David Ellison and Skydance Media to merge in an settlement that will deliver collectively the producer of High Gun: Maverick with the proprietor of Paramount Footage, CBS, Showtime, Nickelodeon, MTV, Paramount+ and different belongings.
The businesses estimate that this New Paramount would have an enterprise worth of $28 billion. The brand new deal for Lea additionally comes as hypothesis grows that the incoming Trump administration could loosen rules to permit extra M&A.
Lea had been government vp world authorities affairs at Viacom since 2013 and commenced her profession there in 1997. Below the renewed settlement, Lea’s annual base wage stays $1 million, and her goal annual money bonus underneath the studio’s brief time period incentive plan is bumped to 110 % of her annual base wage.
And the goal worth of her annual grants of fairness compensation underneath a long-term incentive plan is elevated to $1.25 million.