Paramount Global Director Charles Phillips, Who Questioned Skydance Deal, Resigning From Board

Paramount Global board member Charles Phillips, who raised questions about Skydance Media’s offers during the companies’ months-long merger saga, is resigning from the board.

In an SEC filing Friday morning, the company said Phillips had tendered his resignation on Monday. It takes effect at the end of the month.

“As my firm Recognize launches a second fund next month, the expansion and growth unfortunately leave less time for outside commitments,” Phillips wrote in his resignation letter. “It’s been an honor to serve on the Viacom, ViacomCBS, and Paramount boards in a dynamic industry. I wish the company and its many talented employees well in the future.”

Phillips previously had worked for Oracle, which Skydance backer Larry Ellison co-founded and currently chairs. Ellison’s son, David, runs Skydance and will be CEO of the combined Skydance-Paramount entity when that merger closes in the first half of 2025.

Some observers of and participants in the merger deliberations raised concerns about a potential conflict of interest on Phillips’ part due to his background at Oracle.

MORE to come …