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For the third quarter, Paramount is anticipated to report a direct-to-consumer (DTC) loss of $161.5 million, according to Bloomberg consensus estimates. That's narrower than the $238 million loss seen in the year-earlier period but would be a reversal from the $26 million surprise profit it reported in Q2.

Paramount Global non-executive chair Shari Redstone is set to exit the media giant's board of directors following completion of the media giant's $8 billion merger with Skydance Media, an individual familiar with her plans tells TheWrap.

(Reuters) -Shari Redstone won't stay on the board of Paramount Global after the company completes its planned merger with Skydance Media, Bloomberg News reported on Monday, citing people familiar with her plans.

Shari Redstone and her son, Tyler Korff, do not intend to serve on Paramount Global’s board of directors after the close of the company’s pending merger with Skydance Media. Redstone’s National Amusements has been Paramount’s controlling shareholder for decades.