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International Business Times
International Business Times
Business
Ann Resuma

Paramount Chair Shari Redstone To Receive $180M In Severance, Benefits: Report

Paramount appears to be considering Edgar Bronfman Jr.'s acquisition offer as it extended the period for negotiating with other bidders. YouTube | Paramount Pictures 100th Anniversary Logo (Credit: Paramount Pictures YouTube/Screenshot)

Shari Redstone, chair of Paramount Global, is set to receive $180 million as her severance pay plus other benefits. The amount is over and above the millions of dollars that she is bound to receive from the sale of her National Amusements shares to Skydance Media.

Redstone owns 20% of National Amusements, which is the controlling shareholder of Paramount. Redstone holds the position through two trusts in her name. With the sale, the Paramount chair is expected to receive a whopping $350 million, Bloomberg reported on Thursday citing "people with knowledge of the matter."

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