Redstone Due Huge Severance When Paramount-Skydance Deal Closes

In 2024, Shari Redstone, the non-executive chairwoman and controlling shareholder of Paramount Global, received a total director compensation of $523,387, making her the fourth highest-paid member of Paramount’s board of directors. 

This information comes from an amended 10-K filing with the U.S. Securities and Exchange Commission. 

Her compensation package included:

• $300,000 in fees.
• $198,227 in stock awards.
• $160 reflecting a change in pension value and non-qualified deferred compensation earnings.
• $25,000 in “other” compensation, which consisted of matching contributions for donations made to eligible tax-exempt organizations on her behalf by Paramount in 2024.

The Paramount board collectively received $3.8 million in compensation for the year. Redstone’s compensation reflects her role as a non-executive director, and she is set to exit the board following the completion of Paramount’s $8 billion merger with Skydance Media, expected to close in the first half of 2025. Under this merger, Skydance will acquire National Amusements, Redstone’s family holding company, which controls 77.4% of Paramount’s Class A voting stock.

Additionally, reports indicate Redstone is in line to receive significant financial benefits from the merger. She holds a 20% stake in National Amusements, potentially yielding around $350 million from its sale, along with $180 million in severance and benefits.