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“Operation Fishbowl”: Major Paramount Shareholder Seeks More Skydance Merger Details As Legal Plot Thickens
Mario Gabelli, a major shareholder of Paramount and its predecessor companies, is demanding more information about the company's merger with Skydance.
Specifically, the investor and fund manager wants to get more financial data and better clarity on the valuation of National Amusements, Inc. Skydance and its backers are putting $8 billion into a complex, two-step transaction to first take control of NAI and then merge with Paramount. Reuters reported that Gabelli had sent a letter to Paramount’s general counsel seeking additional details but the news agency did not cite a formal legal complaint. The Employees’ Retirement System of Rhode Island filed a complaint similar to Gabelli’s last May, asking a judge to order the release of documents.
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