Skydance set to take control of Paramount: sources

STORY: Paramount Global could finally have a buyer, after months of wrangling.

Reuters sources said Tuesday that David Ellison’s Skydance Media has reached an agreement.

It will reportedly buy Shari Redstone’s National Amusements - which owns a controlling stake in Paramount - for $1.75 billion.

There was no comment on the report from any of the players involved.

But the news sent Paramount shares up 9% in after-hours trade.

The Wall Street Journal says the deal includes a 45-day “go shop” period, when other bidders could submit offers.

Interested parties are thought to include Seagram heir Edgar Bronfman Jr…

And Barry Diller, boss of digital-media conglomerate IAC.

Paramount owns assets including CBS, MTV and Nickelodeon, as well as its namesake studio - the maker of movies like “Titanic” and “The Godfather”.

The firm’s fortunes have waned as its traditional TV business declined and a new streaming service struggled to match rivals like Netflix.

Ellison has been trying to buy it for months, but a deal has proved elusive amid disputes over the valuation of the company and its complex shareholder structure.