Movies

Paramount chair Shari Redstone has been diagnosed with thyroid cancer

BBG News

Shari Redstone, chairwoman and major stakeholder of Paramount Global, is currently fighting cancer while navigating the challenging process of selling the media company during this tumultuous period.

Shari Redstone received a diagnosis of thyroid cancer this past spring, as confirmed by her representative Molly Morse on Thursday evening. Despite facing a difficult time, she continues to manage both her work and charitable commitments during her ongoing treatment.

“She and her family are grateful that her prognosis is excellent,” Morse said.

Approximately eleven months have passed since Redstone reached an agreement to transfer Paramount to Skydance Media, owned by David Ellison. This transaction signifies the conclusion of the Redstone family’s influential reign in Hollywood as leading moguls, spanning over four decades.

Hollywood Inc.

According to Mario Gabelli, a seasoned Paramount shareholder, they need to secure approval for [the agreement]. Gabelli and other stakeholders are excited about a fresh start, but the Skydance deal has become a laborious, stop-and-start process.

Yet, the assessment of the Skydance acquisition by the government encountered complications due to President Trump’s 20-billion-dollar legal action against Paramount and its affiliate CBS, stemming from alterations made to a 60 Minutes episode that aired in October.

71-year-old Redstone revealed to the New York Times that she underwent a surgery about two months back, following her diagnosis. The surgeons took out her thyroid gland; however, they were unable to completely eliminate the cancer, which had already reached her vocal cords, according to the newspaper.

She continues to be treated with radiation, the paper reported.

The Redstone clan holds approximately 77% of the voting rights for Paramount Corporation. Their patriarch, the late Sumner Redstone, was instrumental in growing the company into a powerful force, but it has faced declining status lately. This can be attributed to some mismanagement and challenges arising from consumers’ increasing preference for streaming services. This trend has negatively impacted the earnings of cable channel owners, like Paramount, by reducing their revenue.

I’ve been eager to resolve the lawsuit Donald Trump filed against CBS in October, following his conversation with Vice President Kamala Harris on “60 Minutes.” Trump alleged that the broadcast manipulated the interview to make Harris appear more intelligent and enhance her campaign prospects – an accusation CBS firmly refutes.

As a film critic, I’ve found myself right in the thick of it with the recent turmoil surrounding the editing debacles at our studio. This uproar has led to some heavyweight executives packing their bags and bidding adieu, leaving quite an impact. The situation has even caught the attention of the Federal Communications Commission who are now delving deep into allegations of biased news reporting. It’s been a rollercoaster ride, to say the least!

1. The FCC’s examination of the Skydance transaction is facing delays. If the commission fails to give the green light for the transfer of CBS TV station licenses to the Ellison family, the agreement may unravel.

2. Delays are arising in the FCC’s investigation of the Skydance deal. In case the agency refuses to permit the transfer of CBS television broadcasting permits to the Ellison family, the arrangement might fall apart.

3. The FCC’s scrutiny of the Skydance merger is encountering setbacks. If the commission rejects the proposal for the Ellison family to acquire CBS TV station licenses, the transaction could dissolve.

4. Progress in the FCC’s assessment of the Skydance combination is stalling. In the event that the agency disapproves the transfer of CBS television station permits to the Ellison family, the deal might not materialize.

In simple terms, if the two businesses don’t finalize their merger by around mid-October, Paramount could be required to pay a breakup fine of approximately $400 million to Skydance.

I, as part of the family, owe close to $400 million to a distinguished individual named Larry Ellison, both a renowned banker from Chicago and a leading figure in the tech industry. He’s one of the key contributors supporting our endeavor to acquire Paramount and National Amusements.

Hollywood Inc.

Two California Democratic representatives have suggested a meeting to scrutinize Paramount Global’s attempt to resolve Donald Trump’s 20-billion-dollar lawsuit. “I haven’t come across a president acting in such an audacious way,” commented Senator Josh Becker, a Democrat from Menlo Park.

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2025-06-06 04:01

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