The plaintiff alleged the merger was unfair and disadvantageous to Paramount’s Class B stockholders, who will not receive a fair share of the benefits compared to Redstone and National Amusem…
, saying the deal would cost its shareholders $1.65 billion, according to a lawsuit filed in Delaware’s Chancery Court on Wednesday.
The lawsuit, filed by Scott Baker, claims the merger’s primary purpose is to cash out media mogul Shari Redstone’s investment in Paramount at a substantial premium, while other stockholders will receive a significantly lower payout. The plaintiff alleged the merger was unfair and disadvantageous to Paramount’s Class B stockholders, who will not receive a fair share of the benefits compared to Redstone and National Amusements, which owns a controlling stake in Paramount.
Business Hollywood Lawsuits Mergers & Acquisitions Paramount Shareholders Shari Redstone
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How Shari Redstone's son played a key role in Paramount's Skydance dealShari and Tyler weren’t crazy about giving up the family business and handing Sumner’s legacy over to an upstart producer, On the Money has learned.
Read more »
Exclusive: Shari Redstone's next act'The reality is content doesn't just exist on screens. It exists in theater. It exists in life. So this isn't a giant leap forward.'
Read more »
David Ellison agrees to buy Redstone family firm that controls ParamountThe move represents another dramatic reversal by media mogul Shari Redstone, who controls National Amusements and its 77% voting shares in Paramount Global.
Read more »
Paramount soars as Skydance reaches new deal to buy controlling stake from RedstoneShares of Paramount Global jumped 6.5% on Wednesday after reports said Shari Redstone’s National Amusements had reached a preliminary deal to sell its controlling interest in the storied medi…
Read more »
Paramount, Skydance merger deal ends Redstone eraReuters
Read more »
Paramount and Skydance merge, signaling end of Redstone family reign in HollywoodThe entertainment giant Paramount will merge with Skydance, closing out a decades-long run by the Redstone family in Hollywood and injecting desperately needed cash into a legacy studio that has struggled to adapt to a shifting entertainment landscape.
Read more »