June 2 (Reuters) - Paramount Global ( PARAA ) nominated
three new directors on Monday, seeking to boost its board
strength to seven as it awaits regulatory approval for its $8.4
billion merger with Skydance Media.
Paramount nominated Mary Boies, counsel to Boies Schiller
Flexner LLP, Charles Ryan, co-founder and general partner of
Almaz Capital, and Roanne Sragow Licht, former justice and
adjunct professor at Boston University and Roger Williams
University.
U.S. President Donald Trump filed a $10 billion lawsuit
against Paramount-owned CBS News in October, alleging that the
network deceptively edited an interview with then-vice president
and presidential candidate Kamala Harris, to "tip the scales in
favor of the Democratic Party" in the election.
Trump's lawsuit is seen as a major roadblock to the
Paramount-Skydance merger, according to some analysts.
The merger requires approval from the U.S. Federal
Communications Commission, which has authority over the
transaction because it needs to approve the transfer of the
broadcast television licenses held by CBS.
Paramount, chaired by Shari Redstone, reportedly offered $15
million to settle the suit.
Trump raised his claim for damages to $20 billion in
February.
The Wall Street Journal reported last week that the company
wanted to ensure it had a full board in place in case its
negotiations with Trump to settle his lawsuit fell through.
Paramount is scheduled to hold its annual stockholder
meeting on July 2.