The FCC filing follows legal maneuvering from Mario Gabelli, the largest holder of nonvoting shares, seeking access to Paramount's books.
In a petition to the FCC, Gabelli urged the commission not to transfer control of broadcast licenses held by Shari Redstone’s National Amusements to Skydance until he decides whether to sue for breach of fiduciary duty.
As part of the merger, class A shareholders will receive $23 per share, while class B nonvoting shareholders will receive $15 per share. Gabelli, the largest holder of nonvoting shares, seeks information related to whether Redstone, who owns both voting and nonvoting shares, will get more money for her Class B shares than others.
In last week’s filing, Gabelli moved for the FCC to defer approval until he’s decided whether to sue Paramount’s Board of directors, National Amusements and Skydance for breach of fiduciary duty under claims that the deal violates federal law.
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