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Hollywood Inc.
The move represents another dramatic reversal by media mogul Shari Redstone, who controls National Amusements and its 77% voting shares in Paramount Global.
After pulling the plug on the Paramount sale, mogul Shari Redstone made it known that she would entertain offers for her family holding company, National Amusements Inc., that controls Paramount’s voting shares.
The mogul’s stunning eleventh-hour reversal came after a financial deal had been reached with David Ellison’s Skydance Media. For now, the storied media company will attempt to go it alone.
Shari Redstone and her children must decide whether to accept a deal that provides family members with $1.7 billion.
Rather than leading Paramount to reclaim its place among industry titans, Redstone’s tenure atop the company has been marred by miscalculations and setbacks.
The chairman of CBS parent Paramount Global said she disagreed with her news executives’ decision to admonish “CBS Mornings” co-host Tony Dokoupil.
Redstone, Paramount Global’s controlling shareholder, had long preferred the proposed deal to hand control of the company to Ellison, a process that has taken at least six months. But other bidders for her family’s shares have emerged.
Shares of Paramount Global were down as much as 7% Wednesday as several directors are leaving the company’s board and talks with Skydance continue.
California
Scott Michael Nathan, former assistant to heiress Keryn Redstone, accused her of falsely alleging he threatened her with a gun, a new lawsuit claims.
Real Estate
In famed Beverly Park, the longtime estate of late media mogul Sumner Redstone is on the market for $27.9 million.