Paramount plans to shrink board to seven directors amid Skydance deal talks
Earlier this month, a source told Reuters that Paramount's board had agreed to enter exclusive merger talks with Skydance Media.
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Earlier this month, a source told Reuters that Paramount's board had agreed to enter exclusive merger talks with Skydance Media.
Shares of Paramount Global tanked and then bounced back on Wednesday amid reported merger talks that would pair the media conglomerate with billionaire Larry Ellison’s son, David Ellison.
Former Spotify executive Dawn Ostroff, Sony Entertainment ex-president Nicole Seligman, Redstone attorney Rob Klieger and investment banker Frederick Terrell are expected to leave the board in the next few weeks, the report said citing people familiar with the matter. Paramount declined to comment.
Paramount shares lost ground following a report four members of Paramount Global's board will step down amid merger talks.
Paramount board members Dawn Ostroff, Nicole Seligman and Rob Klieger are stepping down amid Skydance Media talks, WSJ reports.