Shari Redstone, the prominent media mogul who controls Paramount Global, was diagnosed with thyroid cancer earlier this spring and is currently undergoing treatment. A spokesperson for Redstone confirmed the diagnosis, stating, "While it has been a challenging period, she is maintaining all professional and philanthropic activities throughout her treatment, which is ongoing." The spokesperson also added that "She and her family are grateful that her prognosis is excellent." Reports indicate that Redstone, 71, sought medical attention approximately two months ago after experiencing symptoms such as fatigue, and received the cancer diagnosis the following day.

Redstone plays a pivotal role in the media industry, overseeing Paramount Global, which owns CBS, cable networks including MTV and Comedy Central, and the Paramount Pictures movie studio. Since 2023, she has been actively involved in discussions to sell her stake in the company. A significant deal is currently proposed with Skydance Media, founded by David Ellison, for an $8.4 billion merger. This transaction is still pending approval from the U.S. Federal Communications Commission (FCC). Redstone reportedly kept her diagnosis private initially, confiding only in a close circle of relatives, friends, and advisers, which included David Ellison.

The prospective sale to Skydance Media has faced political complexities, most notably a lawsuit initiated by former U.S. President Donald Trump against CBS concerning a "60 Minutes" segment that aired last fall. Redstone has reportedly been advocating for Paramount to settle this lawsuit. While the merger review process and the Trump lawsuit are officially distinct issues, some individuals both within and outside CBS perceive connections between the two matters.

Redstone is said to believe that settling the lawsuit would be in the best interests of Paramount. However, such a settlement could be viewed by some as an attempt to secure government approval for the Skydance deal, a move that would likely draw criticism from journalists at CBS News. The successful completion of the Skydance deal stands to yield over $2 billion for Redstone and her family. Conversely, if the deal fails, Paramount could be liable for a $400 million breakup fee. It has been reported that Paramount has entered mediation and offered $15 million to settle the Trump lawsuit. Redstone has not made any public comments regarding this situation.

The New York Times was the first to report the news of Redstone's cancer diagnosis. According to the Times, and subsequently reported by Reuters, surgeons removed Redstone's thyroid gland, but some cancer cells had spread to her vocal cords and remained. The New York Times also noted, "While she closely monitors developments at Paramount and remains eager to see a deal with Skydance completed, she continues to be occupied with medical consultations and treatment."