Shari Redstone reached a preliminary agreement to sell her controlling stake in Paramount Global to Skydance Media weeks after walking away from a deal with the two sides. As part of the deal, Skydance will pay $1.75 billion to National Amusements, which controls Paramount. Paramount owns studios, networks, and streaming services like CBS, MTV, Nickelodeon, and Paramount+. It has struggled with debt and building its streaming business. Shares of Paramount stock rose 9% on the news.