Legal Battle Heats Up: Delaware Judge to Scrutinize Paramount’s $8 Billion Sale Amid Investor Resistance
WILMINGTON, Del. — A Delaware court is setting the stage to tackle a class action lawsuit aimed at halting the proposed $8 billion acquisition of Paramount Global by Skydance Media. The legal challenge raises concerns about the transaction’s fairness to Paramount’s public shareholders, spotlighting the influential role of the company’s controlling shareholder, Shari Redstone. The judicial scrutiny unfolds following Redstone’s decision to divest her Paramount stake to David Ellison’s Skydance Media in July, under a deal that is still pending regulatory approval. The strategic shift to Skydance, a burgeoning force in the streaming sector, has … Read more