(Bloomberg) -- Oracle Corp. Chief Executive Officer Safra Catz is leaving the board of Walt Disney Co. in the wake of the announced takeover of Paramount Global involving Oracle Chairman Larry Ellison.
Catz served on the Disney board for six years. Her departure is effective immediately. Disney’s board will shrink to 11 members, the company said in a statement Friday.
Paramount, parent of the namesake film studio and the CBS broadcast network, earlier this month accepted a takeover offer from Ellison’s son, David, that involves $8 billion in funding, most of it from the Ellison family. That deal is expected to close next year.
--With assistance from Brody Ford.
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