Shari Redstone will leave the Paramount Global board once the media conglom's deal with Skydance Media closes in 2025.

Shari Redstone and her son, Tyler Korff, do not intend to serve on Paramount Global’s board of directors after the close of the company’s pending merger with Skydance Media. Redstone’s National Amusements has been Paramount’s controlling shareholder for decades.

(Reuters) -Shari Redstone won't stay on the board of Paramount Global after the company completes its planned merger with Skydance Media, Bloomberg News reported on Monday, citing people familiar with her plans.

For the third quarter, Paramount is anticipated to report a direct-to-consumer (DTC) loss of $161.5 million, according to Bloomberg consensus estimates. That's narrower than the $238 million loss seen in the year-earlier period but would be a reversal from the $26 million surprise profit it reported in Q2.

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A month ago Skydance filed forms with the SEC suggesting that the Oracle founder could control Paramount after the deal closes, now it says David is firmly in charge.