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3w ago

Paramount Global Nominates Three New Board Members as Skydance Merger and Trump Lawsuit Remain Pending

The nominees will stand for election at the July 2 shareholder meeting to bolster a trimmed board tasked with guiding Paramount through its FCC merger review

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Paramount Global and Skydance logos are seen in this illustration taken December 17, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

Overview

  • Paramount’s June 2 proxy filing nominates attorney Mary Boies, former judge Roanne Sragow Licht and venture capitalist Charles Ryan as new independent directors.
  • The nominees will stand for election at the July 2, 2025, shareholder meeting, restoring the board to seven members after four departures since 2024.
  • The Federal Communications Commission is continuing its review of Paramount’s July 2024 merger agreement with Skydance Media, delaying the deal’s completion.
  • Paramount and Donald Trump are in mediation over his defamation lawsuit tied to a 60 Minutes interview, with Paramount reported to have offered $15 million toward a settlement.
  • The incoming board will need to approve any Trump settlement and guide Paramount if FCC approval for the Skydance merger is further delayed or denied.