BFA is investigating whether the Paramount Global (NASDAQ:PARA) merger transaction is fair to minority shareholders, who are being offered up to $15 per share in exchange for their Paramount Class B Shares. Minority shareholders of Paramount will have no voice in the transaction because controlling shareholder, Shari Redstone, has unilaterally decided not to subject the merger transaction to a minority shareholder vote.
 
If you own shares of Paramount Global, you are encouraged to fill out the form. 
 
Investigation Details:
 
Paramount Global is controlled by Shari Redstone through National Amusements, which owns 77.4% of the total voting power of Paramount Global’s voting stock. National Amusements is able to control the outcome of Paramount Global’s corporate actions that typically would require shareholder approval—including transactions involving a change of control.   
 
On July 7, 2024, Paramount Global announced that it had entered into a merger transaction with a consortium led by Skydance Media, RedBird Capital, and the Ellison Family (the “Skydance Consortium”). Minority shareholders will have no say over the merger transaction, as National Amusements is apparently unwilling to subject the merger to a vote of minority shareholders.
 
As part of the merger transaction, Class A shareholders are entitled to elect to receive $23 per share in cash. Class B shareholders, however, are entitled to elect to receive a payout in cash of $15 per share, which will be prorated if enough shareholders elect to receive cash. BFA is concerned that the disparate treatment of Class B shareholders is unfair and violates Delaware law. As such, BFA believes the board of directors of Paramount Global, and National Amusements may have breached their fiduciary duties to Paramount Global Class B shareholders.
 
Next Steps:

If you currently own shares of Paramount Global, you may have legal options and you are encouraged to submit your information to speak with an attorney.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
 
Contact:
Ross Shikowitz
ross@bfalaw.com
212-789-2303

Fill out the form for more information.
 
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