July 3 (Reuters) - Skydance Media's deal to acquire

theater operator National Amusements, with its controlling

interest in Paramount Global ( PARAA ), could be finalized by

Monday, sources familiar with the deal process said.

Parties are expected to work throughout the weekend to

finalize the deal before Tuesday's start of Allen & Co's annual

gathering of technology and media titans in Sun Valley, Idaho,

which Paramount Global Chair Shari Redstone typically attends.

Skydance Media, an independent media company with interests

in films, animation, television, video games and sports, has

offered to pay $1.75 billion for National Amusements, the

holding company that owns about 77% of the voting shares of

Paramount. The preliminary deal was referred on Tuesday to a

special committee of Paramount's board, which is reviewing the

offer.

The two-step acquisition would merge Ellison's independent

production company and the venerable Hollywood studio.

Skydance and National Amusements agreed to a 45-day go-shop

period that would open the door to other interested bidders,

said one source familiar with the deal terms.

The century-old Paramount Pictures is known for films such

as "Titanic," "The Godfather" and the "Transformers" franchise.

Skydance has co-produced Paramount movies such as "Top Gun:

Maverick" and "Star Trek Into Darkness."

Skydance CEO David Ellison, the son of Oracle co-founder

Larry Ellison, has spent months in pursuit of Paramount, a

combination initially embraced by Redstone, daughter of late

media tycoon Sumner Redstone, multiple sources said. She nixed

the deal in early June after Skydance adjusted its offer to

provide more money for other shareholders.

National Amusements re-engaged with Skydance over the past

week, even as it continued conversations with other interested

parties, one source familiar with the talks said.

CNBC was the first to report that the Skydance-National

Amusements deal is expected to be completed this weekend.