Overview

• Investor Mario Gabelli, a major shareholder, prefers Paramount to remain independent and focus on its turnaround strategy under CEO Bob Bakish.
• Ariel Investments criticizes the lack of competitive bidding in the merger talks, arguing it undermines fair market value.
• Shareholders threaten legal action, fearing the deal favors certain insiders at the expense of general shareholder interests.
• Concerns are heightened by upcoming changes in Paramount’s board, with four directors not seeking reelection amid the merger controversy.
• Investors urge Paramount to consider other bids, including a $26 billion offer from Apollo Global Management, which was not pursued due to financing concerns.