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Paramount Global Stock Pops as Redstone Engages in Exclusive Sales Talks with Skydance Media
Shares of Paramount Global soared after a report that controlling shareholder Shari Redstone reached a tentative agreement to sell her stake to Skydance Media.
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. Variety reported Tuesday that Redstone and Skydance were close to establishing 30-day window for exclusive deal talks after months of discussions.
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