Shari Redstone and her son, Tyler Korff, do not intend to serve on Paramount Global’s board of directors after the close of the company’s pending merger with Skydance Media. Redstone’s National Amusements has been Paramount’s controlling shareholder for decades.

It's no surprise, but Shari Redstone will officially part ways with Paramount Global for good once the media conglom's deal with Skydance Media closes in 2025. Redstone will exit the Paramount board after Skydance and RedBird Capital Partners complete the two-part transaction to acquire Redstone's National Amusements Inc.

(Reuters) -Shari Redstone won't stay on the board of Paramount Global after the company completes its planned merger with Skydance Media, Bloomberg News reported on Monday, citing people familiar with her plans.

An amended FCC filing by Skydance today says that David Ellison will hold 100% of the Ellison family’s interest in Paramount one that deal closes, an attempt to allay concern that control will his father,

A month ago Skydance filed forms with the SEC suggesting that the Oracle founder could control Paramount after the deal closes, now it says David is firmly in charge.

Paramount Global non-executive chair Shari Redstone is set to exit the media giant's board of directors following completion of the media giant's $8 billion merger with Skydance Media, an individual familiar with her plans tells TheWrap.