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5mo ago

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.

Overview

  • 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.