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Shari Redstone, chair of Paramount Global<\/a>, will get $180 million in severance and other benefits on top of hundreds of millions from the sale of her stock to a group led by filmmaker David Ellison, people with knowledge of the matter said.<\/p>\n The Ellison family and its partner, RedBird Capital Partners, are paying about $1.75 billion to acquire the equity of National Amusements Inc., the Redstone family company that owns most of the voting stock in Paramount, the parent of CBS and MTV.<\/p>\n Redstone holds a 20% stake in National Amusements through two trusts in her name and is in line to receive about $350 million from its sale. The Ellison group will also pay off obligations that include a $70 million severance package for Redstone and an unfunded pension liability of $110 million as part of the National Amusements acquisition, said the people, who asked not to be identified discussing nonpublic information.<\/p>\n Ellison is leading a group of investors poised to acquire majority control of Paramount, a major film and TV company, for more than $8 billion.<\/p>\n The group is paying $2.4 billion for National Amusements, including the liabilities, according to publicly reported details of the\u00a0agreement<\/a>. It\u2019s also planning to invest $6 billion to buy Paramount shares and reduce the company\u2019s debt, and will merge the business with Ellison\u2019s company, Skydance Media.<\/p>\n National Amusements includes the Redstone family\u2019s original source of wealth, a chain of movie theaters. It\u2019s also the vehicle through which they own a majority of Paramount\u2019s voting stock.<\/p>\n<\/div>\n\nRecommended reading:<\/strong>
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