Paramount’s Media Heiress Will Leave the Stage After Last Act in a Chaotic Drama

An $8 billion deal Shari Redstone struck with Skydance Media must go through the FCC next year; new owners seek over $2 billion in cost cuts

By 

Jessica Toonkel

Updated Dec. 22, 2024 11:26 am ET

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Shari Redstone was a reluctant seller of her family’s business. PHOTO: STEPHEN LOVEKIN/AWNEWYORK

Paramount Global boss Shari Redstone took a winding path to sell her family’s media empire. Along the way, a CEO was dethroned, multiple board members resigned and investors lashed out.

Now, the 70-year-old media heiress is preparing to hand the reins to a new owner in 2025—but she promises not to go away entirely, and neither will Paramount’s problems.