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Paramount Investor Mario Gabelli ‘Very Impressed’ With Skydance Deal Presentation but Isn’t Sure Buyout Price of Voting Shares Is ‘Fair’
Investor Mario Gabelli said he wasn't sure Skydance Media's buyout price for Paramount Global's Class A voting shareholders was fair.
But at this point, he doesn’t know whether the buyout price Skydance is offering Paramount’s Class A voting shareholders is fair — and he indicated his firm is keeping legal options open if it determines the deal isn’t equitable. In an interview with Variety, Gabelli praised the Skydance and Paramount teams for “a fantastic job” in detailing how the combined company could achieve synergies in content production and global distribution and through potential streaming joint ventures. Skydance sees at least $2 billion in annualized cost cuts that can be made at the company, much of it from its linear TV business, RedBird Sports & Media chairman Jeff Shell told Paramount investors Monday.
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