(Bloomberg) — Paramount Global, the parent of CBS and MTV, is getting closer to a deal to merge with independent producer David Ellison’s Skydance Media.
Most Read from Bloomberg
Shari Redstone, Paramount’s controlling shareholder, has reached a tentative agreement to sell her stake to Skydance, people with knowledge of the situation said. In addition, Paramount and Skydance have agreed on the broad framework of a deal to combine, according to the people, and will use a 30-day window of exclusive talks to work out the details.
Paramount and Skydance declined to comment, while Redstone didn’t respond to a request for comment.
Shares of Paramount have declined for years, reflecting the company’s loss of TV viewers to other forms of…
