Shari Redstone Cancer Diagnosis: Paramount Chair’s Health Update
Shari Redstone Battles Cancer amid Paramount global Sale Turbulence
Updated June 06, 2025
Shari Redstone, chairwoman and controlling shareholder of Paramount Global, is undergoing treatment for thyroid cancer as she navigates the media company’s uncertain sale. The diagnosis,revealed by her spokeswoman Molly Morse,came earlier this spring. despite the challenges, Morse said Redstone, 71, continues her professional and philanthropic work, with an “excellent” prognosis.
The news surfaces nearly a year after Redstone agreed to sell Paramount to David Ellison’s Skydance Media, a deal possibly ending the Redstone family’s four-decade reign as Hollywood moguls. However, the Skydance sale faces complications, including a $20 billion lawsuit from former President donald Trump over edits to a “60 Minutes” broadcast.
Redstone told The New York Times she had surgery last month to remove her thyroid gland after being diagnosed two months prior. The surgery did not fully eradicate the cancer,which had spread to her vocal cords,and she is continuing radiation treatment.
The Redstone family controls 77% of Paramount’s voting shares. Following Bob Bakish’s ouster as chief executive, a trio of executives now manage the company as co-chief executives. Her father, the late Sumner Redstone, built Paramount into an entertainment powerhouse, but the company’s standing has declined recently due to management issues and the shift to streaming, which has impacted revenue from cable channels.
The COVID-19 pandemic and the 2023 writers and actors strikes further strained Paramount and National Amusements Inc., the Redstone family’s private firm that owns movie theaters. Paramount cut its dividend two years ago, adding to the family’s financial pressures. These financial challenges contributed to Redstone’s decision to consider offers for Paramount and National Amusements.
Talks between Ellison and Redstone began nearly two years ago, culminating in an $8 billion deal last July that woudl transfer control to Ellison.Redstone aims to finalize the deal, which would provide National Amusements with $2.4 billion to pay debts and leave the family with over $1.7 billion.
She has also urged Paramount to settle Trump’s lawsuit, filed after “60 Minutes” interviewed then-Vice President Kamala Harris. Trump accused CBS of deceptively editing the interview to favor Harris, a claim CBS denies. The dispute has caused internal unrest, high-level departures, and an FCC examination of alleged news distortion.
The FCC’s review of the Skydance deal has stalled. If the agency does not approve the transfer of CBS television station licenses to the Ellison family, the deal could collapse. The merger must be completed by early October, or Paramount will owe Skydance a $400 million breakup fee.
Redstone, through National Amusements, also owes nearly $400 million to a Chicago banker and tech titan Larry Ellison, who is helping finance the buyout of Paramount and National Amusements. Last week, Paramount nominated three new directors to its board following its July 2 investor meeting.
In a proxy filing, Paramount asked shareholders to expand the board to seven directors, including Redstone and three recruits: attorney Mary Boies, venture capital executive Charles E. Ryan, and former judge Roanne Sragow Licht. They would join current board members Linda M. Griego, Susan Schuman, and Barbara M. Byrne.
What’s next
The coming months are critical for Paramount Global as Shari Redstone manages her health while navigating the complex path toward a potential sale to Skydance Media. The resolution of the Trump lawsuit and the FCC’s decision on the transfer of CBS licenses will be pivotal in determining the future of the company.