Shari Redstone, the 71-year-old chairwoman and controlling shareholder of Paramount Global, revealed she has been diagnosed with thyroid cancer amid a tumultuous period for her media empire as a multibillion-dollar merger has been put at risk by a lawsuit filed by President Trump.
Redstone, who took the reins of the company formerly known as ViacomCBS in 2019, underwent surgery in May after experiencing fatigue and other symptoms, with doctors removing her thyroid gland but unable to extract all cancer cells due to their spread to her vocal cords, according to her spokesperson.
A spokesperson for Paramount Global chair Shari Redstone told Reuters that she was diagnosed with thyroid cancer earlier this year. Getty Images“Shari Redstone was diagnosed with thyroid cancer earlier this spring,” Molly Morse, Redstone’s representative, told The Post on Friday, adding: “She and her family are grateful that her prognosis is excellent.”
News of Redstone’s diagnosis was first reported by the New York Times.
Redstone’s diagnosis occurs amid a contentious merger deal, with Skydance Media set to acquire Paramount in an $8 billion transaction awaiting Federal Communications Commission (FCC) approval.
The merger faces heightened scrutiny after Trump filed a $20 billion lawsuit against Paramount-owned CBS News and its flagship show, “60 Minutes.”
Trump accused CBS of deceptively editing an interview with his opponent in the 2024 presidential election, then-Vice President Kamala Harris.
While legal experts have said the lawsuit is without merit, the legal action has nonetheless complicated the Paramount-Skydance merger’s regulatory approval process.
FCC Chairman Brendan Carr has indicated the lawsuit wouldn’t directly influence the FCC’s review. But prolonged settlement talks between Paramount and Trump have delayed proceedings.
Redstone sought medical help two months ago after experiencing fatigue and other symptoms before getting a diagnosis the following day. FilmMagicParamount executives recently proposed an eight-figure settlement, which was rejected by Trump’s legal team.
Redstone had previously urged Paramount’s board to seek a resolution, voicing concerns about an extended and costly legal battle that could negatively impact other divisions of the company.
She recused herself from direct board discussions related to the lawsuit due to her significant personal financial interest in the pending merger.
Redstone, the daughter of the late mogul Sumner Redstone, who built a regional theater chain into the global media conglomerate that today encompasses Paramount Global, stands to personally pocket around $530 million from the pending merger with Skydance.
That sum comprises the sale of her 77% stake in Paramount parent company National Amusements, which is worth around $350 million; a $70 million severance package to be paid by Skydance and its partners; and $110 million to cover pension liabilities and other benefits associated with her departure from Paramount.
Trump’s lawsuit has stoked internal tensions at CBS, where journalists have reportedly chafed at corporate interference from the division’s parent company.
In April, “60 Minutes” executive producer Bill Owens resigned, citing restrictions on journalistic independence. Additionally, Wendy McMahon, former CBS News president, departed in May over strategic disagreements.
Sens. Elizabeth Warren (D-Mass.), Ron Wyden (D-Ore.) and Bernie Sanders (I-Vt.) have publicly cautioned Paramount against any settlement, suggesting it might appear as a bribe, potentially triggering congressional scrutiny.
“Politicians and presidents can’t go suing people over stories they do not like,” Sanders has said.
The New York Times reported that surgeons removed her thyroid gland, even though some cancer cells have spread to her vocal cords. Getty ImagesAmid these mounting pressures, analysts have increasingly expressed concern about Paramount’s future.
Rob McDowell, former FCC commissioner, described Paramount as potentially becoming “a melting ice cube” should the Skydance merger falter.
McDowell suggested that despite current FCC constraints — now down to two commissioners following Nathan Simington’s resignation — the merger could technically receive approval without a full commission vote.
However, Wall Street analyst Rich Greenfield echoed broader skepticism, pointing out growing market unease due to delays and uncertainties.
“Corporate leaders in media and tech have been wrong-footed by the Trump administration thus far during his second term,” Greenfield observed, emphasizing that initially positive expectations for regulatory easing have shifted dramatically under heightened political and economic tensions.
Despite the challenges, Paramount continues restructuring its governance, recently nominating three new board directors: Mary Boies of Boies Schiller Flexner, Almaz Capital co-founder Charles E. Ryan and Boston University adjunct professor Roanne Sragow Licht.
Paramount stated this governance refresh was part of its ongoing efforts to enhance strategic oversight during a critical period.
While Redstone’s health remains her primary concern, her spokeswoman affirmed she continues active engagement in Paramount’s operations and philanthropic activities.
