Entertainment

Paramount Stock Pops as Redstone Engages in Exclusive Talks with Skydance

Shares of Paramount Global soared 15% Wednesday following a report that Shari Redstone — the company’s controlling shareholder — had reached a tentative agreement to sell her stake to Skydance Media.

Bloomberg News, citing anonymous sources, reported that Redstone had come to a tentative agreement to sell her stake in National Amusements Inc. to David Ellison’s Skydance. NAI holds a nearly 80% voting stake in Paramount Global.

However, sources told Variety that no agreement, preliminary or otherwise, has been negotiated at this point.

More to come


Source link

Related Articles

Back to top button