The chair of Paramount Global will leave the board following the completion of its merger with Skydance Media, according to a report in Bloomberg Media.
Citing unnamed sources with knowledge of Redstone’s plans, the report said she has no intention of joining the board of the new company.
Following protracted negotiations, Skydance and its partners signed a deal to acquire National Amusements, which holds the Redstone’s family’s stake in Paramount, in July with a subsequent merger set to complete early next year and the formation of a new company, known as “New Paramount.”
