Shari Redstone may have sealed the deal on an $8 billion Paramount Global merger with Skydance Media, but her holding company, National Amusements, may now face a flurry of legal challenges.
A major shareholder of Paramount stock has filed a class action lawsuit over the company’s merger with Skydance, the first of what’s expected to be several complaints involving the payout to minority investors in the deal.
Billionaire money manager Mario Gabelli’s Value 25 Fund and its affiliates (GAMCO), in a lawsuit filed under seal on Wednesday in Delaware Chancery Court, alleges National Amusements received “unfair and inequitable” payouts compared to other investors, who believe that the merger enriched controlling shareholder Shari Redstone at their expense.
The filing follows Skydance Media closing its takeover of Paramount on Aug. 7 to form a…
