By Connor McCroryTatiana Krisztina,

4 hours ago

Amidst navigating a momentous merger, Shari Redstone, the influential chair of Paramount Global, has been discreetly battling thyroid cancer while persistently pursuing the completion of a highly expected deal with Skydance Media.

"Shari Redstone was diagnosed with thyroid cancer earlier this spring," revealed a spokesperson for the 71-year-old mogul. Despite the health challenges, she's keeping up with all her business and charitable engagements as she undergoes continuing treatment.

"While it has been a challenging period, she is maintaining all professional and philanthropic activities throughout her treatment, which is ongoing."

"She and her family are grateful that her prognosis is excellent," the statement added. This news surfaces just as Redstone is embroiled in facilitating the complex $8 billion sale of Paramount to David Ellison's Skydance Media.

The transaction, initially proposed last year, has hit several snags, including a contentious legal tangle involving Donald Trump and CBS News related to an interview with then-Democratic presidential hopeful Kamala Harris. With the lawsuit now in mediation and the Federal Communications Commission lagging on its endorsement, skepticism regarding the deal's fruition is mounting among market watchers.

Media expert Rich Greenfield cast doubt this week, suggesting the deal's prospects are fading. He pointed out that although a new 90-day extension is set for July, without FCC approval by early October, "I believe they'll walk.", reports the Irish Star.

Shari Redstone, inheriting control of Paramount through her family's National Amusements, has spent a decade tightening her grip on CBS and Viacom.

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Despite challenges from within and beyond the company, including disputes with her late father, Sumner Redstone, whom she reconciled with before his 2020 passing, Redstone has stood firm. She's navigated gender bias in a male-dominated industry, maintaining a high profile and supporting bold editorial choices, such as CBS anchor Tony Dokoupil's intense interview with author Ta-Nehisi Coates, which Redstone hailed as "a role model for what civil discourse is."

The interview faced backlash for its confrontational tone amid Coates' recent critique of Israel, but Redstone, an advocate for anti-Semitism education, stood by it.

Amidst this, the FCC's capacity to approve the deal remains uncertain. Ex-commissioner Rob McDowell suggested last week that the agency might still be able to approve the transaction even after a recent resignation left it with only two members.