.jpg)
(Reuters) – Skydance Media Inc has reached a preliminary agreement to buy Shari Redstone’s family-owned National Amusements and merge with Paramount Global, the Wall Street Journal reported on Tuesday.
Paramount shares rose 9% in after-hours trading.
Redstone’s National Amusements plans to refer the new deal to a special Paramount committee for review, the report said, citing people familiar with the matter.
Skydance will pay National Amusements $1.75 billion as part of the deal, the report said.
Paramount declined to comment, while National Amusements and Skydance did not immediately respond to Reuters’ requests for comment.
