Read Shari Redstone Farewell Memo to Paramount Staff on Eve of Skydance Close
Shari Redstone Sends Heartfelt Memo to Paramount Global Staff Ahead of $8 Billion Deal Closure
On the brink of finalizing an $8 billion deal that will mark the end of her family’s long-standing ownership of Paramount Global and its predecessor companies, Shari Redstone took a moment to express her gratitude to the dedicated staff. In a memo sent out to employees, she shared her optimism for the future of the company under the leadership of David Ellison’s Skydance Media.
The subject line of the memo read: “Thank you for your talent, hard work, and dedication. I will be cheering for you, always.”
In her note, Redstone reflected on her family’s love for the company and the pride she feels in the legacy they have built. She commended the collaborative culture that has been a cornerstone of Paramount Global’s success over the years.
Redstone praised the leadership of co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins for their dedication and the tough decisions they have made to steer the company through challenging times. She acknowledged the contributions of every employee in delivering impressive results despite the industry’s challenges.
As part of the deal, Redstone’s National Amusements Inc. is set to receive $1.75 billion in cash. She will exit the merged company’s board, with Ellison taking on the role of chairman and CEO of the newly formed Paramount Skydance Corp.
With the deal expected to close soon, Skydance has already announced key executive appointments, signaling a new chapter for the company. Of the three current co-CEOs, only Cheeks will remain with the company, overseeing TV media.
In her full memo, Redstone expressed confidence in Skydance’s ability to drive Paramount Global forward and highlighted the company’s recent successes. She credited the talent and dedication of the staff for Paramount’s achievements and emphasized the importance of quality content in driving viewership.
As she prepares to step away from the company, Redstone thanked the employees for their hard work and commitment, expressing her pride in the culture and collaboration that define Paramount Global. She assured them that she will be cheering for them as they continue to carry the company’s spirit forward.
As Paramount Global embarks on a new chapter under Skydance’s leadership, Redstone’s memo serves as a reminder of the company’s rich history and the bright future that lies ahead.
