As a fan with an eye for media industry history, I must say that the renewed contract of DeDe Lea by Paramount Global is nothing short of inspiring! Her journey at Viacom since 1997, rising through the ranks to become Executive Vice President of Global Government Policy and Relations, speaks volumes about her dedication and expertise.
DeDe Lea has secured a fresh agreement with Paramount Global to oversee their government relations initiatives.
The recently announced contract, effective until December 31, 2028, precedes the studio’s impending merger with Skydance Media and a potential new administration in Washington D.C., which could pave the way for increased consolidation within the industry. Back in 2019, when CBS and Viacom combined to form Viacom CBS at that time, Lea took on the role of executive vice president for global public policy and government relations.
Under Bob Bakish’s leadership as president and CEO, ViacomCBS was his domain, a role he had previously held at Viacom. Now, Paramount Global, currently under the management of co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins, is gearing up for another round of restructuring in anticipation of a potential merger with Skydance Media in 2025.
The move comes after Shari Redstone, controlling shareholder of Paramount Global, struck a deal with David Ellison and Skydance Media, which could lead to a merger. This union would see the producer of ‘Top Gun: Maverick’ merge with the owner of Paramount Pictures, CBS, Showtime, Nickelodeon, MTV, Paramount+, and other assets under one roof.
It’s projected that the new incarnation of Paramount would carry a business value of approximately $28 billion. Simultaneously, the agreement with Lea is being struck amidst increasing whispers that the upcoming Trump administration could ease restrictions, potentially fostering more mergers and acquisitions.
Lea has been holding the position of Executive Vice President for Global Government Affairs at Viacom since 2013, having started her career there back in 1997. In the revised contract, Lea’s yearly base salary will stay at $1 million, and her potential annual cash bonus under the studio’s short-term incentive plan has been increased to 110% of her yearly base salary.
Her long-term incentive plan’s annual grant for equity compensation is raised to a total of $1.25 million.
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2024-12-12 16:54