Shari Redstone reportedly in talks to sell Paramount parent to Skydance

January 26, 2024

Media tycoon Shari Redstone is in talks to sell controlling interesting in Paramount parent National Amusements to media and entertainment company Skydance, Puck and the New York Times reported Sunday. On Friday, shares of Paramount Global Inc. rallied 13% after Deadline reported Skydance and private-equity firm RedBird Capital were kicking the tires on National Amusement, which has a 77% stake in Paramount. According to the Times, Redstone — the daughter of late Paramount CEO Sumner Redstone — has held talks with Skydance in recent weeks, though the Times said it was unclear if a deal would be reached. Deadline had reported that Skydance would be more interested in Paramount’s IP and movie studio, and could look to sell its TV assets, including CBS. According to the Times, Redstone also discussed a deal earlier this year with Amazon AMZN, +0.37% , Apple AAPL, +0.74% and Netflix NFLX, +0.39% .