Shari Redstone, president of National Amusements, speaks at the WSJ Tech Live conference in Laguna Beach, California, on Oct. 21, 2019.
Mike Blake | Reuters
Paramount shares surged 9% in after-hours trading Tuesday after reports emerged that David Ellison’s Skydance had reached a preliminary deal to acquire the media company’s parent, National Amusements, and thus control of Paramount.
The preliminary agreement, reported by The New York Times and the Wall Street Journal, would mark a rapid resurrection of a previously failed deal between Skydance and National Amusements, which is controlled by Shari Redstone.
A spokesperson for Paramount declined to comment. Representatives for Skydance and National Amusements, which is controlled by Shari Redstone, did not immediately return a request for comment.
This is breaking news. Please check back for updates.
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