As Skydance merger talks progress, Paramount CEO Bob Bakish may be removed from his position as early as Monday.

• According to sources, Bob Bakish, CEO of Paramount Global, will be fired by the company's board on Monday morning.
• According to sources, Bakish will not participate in the company's Monday earnings call.
• Paramount is in exclusive talks for a merger with Skydance Media.

According to sources, Paramount Global's board is set to dismiss CEO Bob Bakish on Monday morning.

Bakish won't be on the call when the company reports its quarterly earnings on Monday, according to sources.

While the board is seeking the support of company division heads instead of a CEO, it is expected to negotiate a possible merger with Skydance Media. A special committee has been established by Paramount Global to explore the deal. The companies are currently in exclusive talks to pursue a deal until May 3, though this window could be extended.

According to sources, Shari Redstone, the controlling shareholder of Paramount Global, has lost trust in CEO Tom Bakish. Redstone was considering removing Bakish before the company's carriage negotiation with Charter Communications, which is crucial for determining the company's value in its merger talks with Skydance.

A spokesperson for Paramount Global declined to comment.

According to sources, Skydance is planning to appoint David Ellison as CEO of Paramount, with Bakish stepping down.

According to sources, Bakish has privately opposed the merger, arguing that it could harm the interests of common shareholders.

According to CNBC's report on April 5, under the deal terms, nearly half of the merged company would be owned by Skydance and its private equity partners, while common shareholders would own the rest. The company would remain publicly traded.

This is a developing story. Check back for updates.