Shari Redstone, the daughter of late media mogul Sumner Redstone, spent much of the 2010s fighting to keep control of the Paramount media empire. Now the 69-year-old Redstone, who is the controlling shareholder of Paramount Global, is considering selling her stake to Skydance Media, the production company behind Top Gun: Maverick, according to Puck and the New York Times.
This would be a massive step for Paramount, a legacy media company that has struggled to keep up with larger competitors in the streaming wars. Paramount, which owns the eponymous movie studio, a host of cable channels including Nickelodeon and Comedy Central, and CBS, has already offloaded several major assets in the past year, including publisher Simon & Schuster and MMA league Bellator, in big-money deals.
