Mario Gabelli Urges FCC to Halt Paramount-Skydance Merger Review

Gabelli raises concerns over shareholder disenfranchisement and potential fiduciary violations in the $8 billion deal.

Mario Gabelli, a major Paramount shareholder, has requested the FCC delay its review of the Paramount-Skydance merger to investigate potential fiduciary and securities violations.
Gabelli's concerns focus on the lack of transparency in the deal process and the fairness of the merger terms for minority shareholders.
The merger involves an $8 billion transaction, with Skydance acquiring control over CBS broadcast licenses currently held by Shari Redstone's National Amusements.
Gabelli argues that minority shareholders are being offered non-voting shares, effectively disenfranchising them and leaving the operation of Paramount unchecked.
Other investors, including the California State Teachers’ Retirement System, have also expressed concerns, with lawsuits filed to access more details about the merger's financial implications.