After more than six months of on-again-off-again talks, Shari Redstone has ended negotations with David Ellison‘s Skydance Media about a prospective merger with Paramount Global, per a Wall Street Journal report.
Redstone, Paramount Global’s controlling shareholder through National Amusements Inc., is instead looking to pursue deals with parties interested in acquiring NAI, per the Journal.
Reps for Skydance declined to comment. An NAI spokesperson did not respond to a request for comment.
Redstone, daughter of late media mogul Sumner Redstone, and Ellison, son of Oracle founder and megabillionaire Larry Ellison, were unable to reach an agreement on the terms of a complex transaction that would have turned over control of Paramount Global to Skydance and its private-equity partners, RedBird Capital Partners and KKR.
