Paramount and Skydance have agreed to terms of a merger, CNBC's David Faber reported Monday. A Paramount special committee and the buying consortium — David Ellison's Skydance, backed by private equity firms RedBird Capital and KKR — agreed to the terms. The deal currently calls for Redstone to receive $2 billion for National Amusements, Faber reported Monday. Following the close of the deal, Skydance and RedBird would own two-thirds of Paramount, and the class B shareholders would own the remaining third of the company, Faber reported. The deal will not require a vote from the shareholders, which was part of the negotiations, Faber reported.

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Persons: Skydance, CNBC's David Faber, — David Ellison's Skydance, KKR —, Shari Redstone, Faber, RedBird, Paramount's, Bob Bakish, George Cheeks, Chris McCarthy, Brian Robbins Organizations: Paramount, Columbia, —, RedBird Capital, KKR, Amusements, Apollo Global Management, Sony Pictures, National Amusements, Wall Street, CNBC, Apollo, Sony, Redstone, CBS, Showtime, MTV Entertainment Studios, Paramount Media Networks, Paramount Pictures, Nickelodeon Locations: Hollywood , California