Shari Redstone paid over $186M owed to creditors of National Amusements, the holding company that owns 77.5% of Paramount’s (PARAA) (PARA) voting stock, which she did with cash mostly fronted by Larry Ellison, Josh Kosman of The New York Times reports, citing sources close to the situation. Ellison’s son is the CEO of Skydance, a company that, with its partners, has agreed to pay $2.4B for the family’s entire National Amusements stake in an $8B deal that will lead to a merger with Paramount. Redstone is set to received $350M from the sale.
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