Shari Redstone, the media mogul who has been trying to sell Paramount in a politically fraught transaction, is undergoing treatment for cancer.
Redstone “was diagnosed with thyroid cancer earlier this spring,” her spokesperson said in a statement. “While it has been a challenging period, she is maintaining all professional and philanthropic activities throughout her treatment, which is ongoing.”
“She and her family are grateful that her prognosis is excellent,” the spokesperson added.
Redstone, 71, controls Paramount Global, the media company that owns CBS, cable channels like MTV and Comedy Central and the Paramount Pictures movie studio.
She has been in talks to sell her stake in the company since 2023, and she has a deal on the table with Skydance Media, which was founded by David Ellison. But the deal needs government approval, and it has run into political roadblocks, chiefly President Trump’s much-lambasted lawsuit against CBS over a “60 Minutes” segment last fall.
Redstone has been encouraging Paramount to settle with Trump – a move that could look like a payoff in exchange for government approval and which would spark an outcry from CBS News journalists.
Officially, the merger review process and the Trump lawsuit are totally separate matters. But unofficially, people both inside and outside CBS see connections, with Redstone believing that a settlement would be in the best interests of the company.
Redstone and her family also stand to make more than $2 billion if the Skydance deal takes effect. Conversely, Paramount would likely have to pay a $400 million breakup fee if it doesn’t.
Redstone has not commented publicly on the matter.
The New York Times broke the news of the cancer diagnosis on Thursday evening.
“While she closely monitors developments at Paramount and remains eager to see a deal with Skydance completed, she continues to be occupied with medical consultations and treatment,” The Times reported.
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