Paramount, Skydance merger faces court challenge by shareholder-March 2024-www.financetom.com

Paramount, Skydance merger faces court challenge by shareholder

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Paramount, Skydance merger faces court challenge by shareholder

Jul 25, 2024 8:28 AM

July 25 (Reuters) - A Paramount Global ( PARAA ) investor

has sued to the block its merger with Skydance Media, saying the

deal would cost its shareholders $1.65 billion, according to a

lawsuit filed in Delaware's Chancery Court on Wednesday.

The company's shareholder Scott Baker said the "payout is

only worth $12.23 per Paramount Class B share".

The lawsuit said the deal is "history repeating itself" from

the earlier CBS-Viacom deal, which formed Paramount Global ( PARAA ) in

2019.

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