Paramount Global shares are up 7% during Wednesday’s trading session following news on Tuesday that David Ellison’s Skydance Media and Shari Redstone’s National Amusements have reached a tentative agreement.
The deal has been referred to the Paramount board’s independent special committee for review. An individual familiar with the matter told TheWrap that the deal could potentially be completed as early as the weekend.
Representatives for Paramount, National Amusements and Skydance declined to comment.
Under the latest deal terms, Ellison’s Skydance would pay $1.75