Shari Redstone’s National Amusements agreed to sell its controlling interest, but the agreement will have to be approved by a special committee of Paramount’s board of directors|CPJ Photos|CC BY 2.0

Skydance and Paramount have reached a preliminary deal weeks after calling off merger talks.

Shari Redstone’s National Amusements agreed to sell its controlling interest, but the agreement must be approved by a special committee of Paramount’s board of directors.

Under the tentative agreement, Skydance would pay $1.75 billion for National Amusements, which owns 77% of the voting shares of Paramount. The deal includes a 45-day “go-shop period” in which Paramount can entertain offers by other bidders.