Paramount and Skydance have agreed to terms on a merger, but the deal is awaiting sign off from controlling shareholder Shari Redstone so the leadership team, comprised of three executives since Bob Bakish stepped down, will map out a plan that includes job cuts and a potential streaming partnership that it will present at the company’s annual shareholder meeting for how the company will proceed if a sale doesn’t happen, a person familiar with the matter told CNBC’s Alex Sherman and Lillian Rizzo.
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