06:49 AM EDT, 07/15/2024 (MT Newswires) -- Paramount Global ( PARAA ) is being asked for details about the valuation of National Amusements assets by Mario Gabelli's investment firm, Reuters reported Friday, citing the investor.

The request comes shortly after Skydance Media and Paramount Global ( PARAA ) agreed to merge in a deal under which Skydance will acquire National Amusements, as it owns a controlling stake in Paramount.

Gabelli Funds, which owns about 4.9 million Class-A voting shares in Paramount, sent a letter to Paramount's general counsel on Friday to seek greater transparency on the National Amusements deal, Reuters said, citing a source at Gabelli.

According to the report, Gabelli has been against the deal for months and may be laying the groundwork to challenge the transaction.

Paramount and Skydance did not immediately respond to MT Newswires' request for comment.

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