Skydance Media reaches new deal with Shari Redstone’s National Amusements, WSJ reports By Reuters

(Reuters) – Skydance Media has reached a preliminary agreement to buy Shari Redstone’s family company National Amusements and merge with Paramount Global, the Wall Street Journal reported on Tuesday.

Shares of Paramount were up 9% in after-hours trading.

Shari Redstone’s National Amusements plans to refer the new deal to a Paramount special committee for review, the report said, citing people familiar with the matter.

Paramount declined to comment and National Amusements did not immediately respond to Reuters request for comment.