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Paramount Hit With Legal Letter to Consider Last-Minute $13.5 Billion Offer From Outside Investors Over Skydance Bid (EXCLUSIVE)
An investor group is mounting an eleventh-hour $13.5 billion offer for Paramount, claiming it is superior to the Larry Ellison-backed Skydance deal.
Those investors have largely remained mysterious outside of 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. The Project Rise investors fired off a legal letter in October 2024 claiming that Paramount’s special committee violated its fiduciary duty to shareholders by neglecting to consider the group’s previous $8.5 billion bid for the company. The Baker & Hostetler letter — addressed to Paramount board members Shari Redstone, Barbara Byrne, Linda Griego, Judith McHale and Susan Schuman — states that the company’s Class B shareholders “would own 50% of the equity versus 30% in the Skydance offer.
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