Specific goals include reducing interest expense and paying down a revolving loan and recent term loans.
Redstone is non-executive chair of Paramount and president, CEO and chair of NAI.
Paramount has an incredible legacy, underpinned by its industry-leading content and media assets.
Shari Redstone, CEO of Paramount Global controlling shareholder National Amusements.Robyn Beck/AFP via Getty Images
We believe strongly in the value creation opportunities ahead for the company and its shareholders.
The investment is expected to close next week, subject to customary closing conditions.
