Shari Redstone to Step Down from Paramount Board Post-Skydance Merger

Redstone and her son Tyler Korff will not join the board of the newly merged entity, despite having the option to do so.

The merger between Paramount Global and Skydance Media is expected to close in the first half of 2025.
David Ellison, CEO of Skydance, will become the board chairman of the new company.
Jeff Shell is set to be the president of the merged entity and will have a seat on the board.
The new board will consist of 11 to 13 members, primarily designated by Skydance, with some independent members and nominees from RedBird Capital.
The merger deal includes indemnification rights for Redstone and other National Amusements shareholders, capped at $200 million.