Get the latest gossip
Judge Declines to Block Paramount-Skydance Merger, but Accelerates Investor Suit
A judge on Thursday declined to issue a restraining order to block the Paramount-Skydance merger, but agreed to accelerate an investor lawsuit.
A group of New York City pension funds filed the suit last month, arguing that Paramount Global had failed to get maximum value by refusing to consider the $13.5 billion bid from Project Rise, which was first reported by Variety. A rep for law firm Grant & Eisenhofer, which is representing the New York City pension funds in the case, said in a statement: “We are pleased with the Chancellor’s decision.” Paramount and Skydance declined to comment on the ruling. The investors in the Project Rise consortium include Daphna Edwards Ziman, president and co-chairman of film and lifestyle TV network Cinémoi, and Moses Gross, founder and CEO of real estate company ANM Group.
Or read this on Variety