Shari Redstone is saying goodbye to Paramount Global

Good morning! Simone Biles is Sports Illustrated’s Sportsperson of the Year, Meghan Markle has a new lifestyle show, and Shari Redstone plans her exit from her family’s company. Have a restful weekend!– Paramount importance. Emotions ran high throughout 2024 at Shari Redstone’s Paramount Global, as my colleague Lila MacLellan details for Fortune. Multiple rounds of layoffs and general mismanagement—including a confusing C-suite structure with three co-CEOs—created an atmosphere “full of tension, grief, and uncertainty” for employees, according to former employees. The company’s stock fell significantly in 2024, and its cable business took a $6 billion write-down in August. 

When Redstone, currently chairwoman of the media empire, reached an $8 billion deal to merge Paramount with Skydance Media in July of last year, it seemed like everyone could finally take a breath—at least until more details come out about what it could look like post-merger.

Of course, the turmoil that rocked Paramount is not all on Redstone. The entertainment industry writ large is facing massive disruption and upheaval; it’s not an easy time to be a legacy media boss. As Matthew Belloni, founder of........

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