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

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