The Shari Orchard

gerry cardinale
The outcome of the deal is far more material to Cardinale’s RedBird Capital, which is contributing $2 billion, making it the firm’s largest investment to date. Photo: Christopher Pike/Bloomberg/Getty Images
William D. Cohan
July 10, 2024

Alas, Shari Redstone was nowhere to be found on Monday when the deal to sell her family’s birthright was finally announced. Perhaps she was too busy taking a victory lap, if you can call it that, in Sun Valley. (“We’re gonna save the world together!” she shouted at media reporters upon her arrival at the lodge.) She did, however, write a letter to Paramount employees thanking them for their support of her and her family over the years. “Against a challenging industry backdrop and many changes at the company, you have protected Paramount’s assets and delivered for our audiences,” she wrote. One longtime Paramount employee described her letter as “jaw-dropping.”