(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.

(Reporting by Harshita Mary Varghese in Bengaluru;Editing by Arun Koyyur)