Paramount Global and its controlling shareholder, the Redstone family’s National Amusements, reportedly have agreed to terms of a deal that would combine Paramount with Skydance Media, which is backed by private equity.
According to CNBC, Shari Redstone would receive $2 billion for National Amusements, which has 77% of the voting power over Paramount.
The deal also puts some cash in the pockets of other Paramount stockholders, with Skydance paying $15 a share for about half of the outstanding class-B Paramount shares.
Skydance and private-equity company RedBird Capital will also put $1.5 billion in cash into Paramount, reducing its debt.
According to CNBC, the deal leaves Skydance and RedBird owning two-thirds of Paramount, with class-B shareholders owning the remaining third.
Paramount holds its annual meeting of shareholders on Tuesday.
Redstone has favored a deal with Skydance, run by David Ellison, son of billionaire Oracle founder Larry Ellison.
Other bidders have made offers for Paramount, including Sony Pictures Entertainment, working with Apollo Global Management.
