M&A: GAMCO INVESTORS, INC. ET AL

Form Type: SCHEDULE 13D/A

Filing Date: 2024-12-30

Corporate Action: Merger

Type: Update

Accession Number: 000080724924000198

Comments: On December 30, 2024, the Gabelli Value 25 Fund, on behalf of GAMCO and its clients, filed a Verified Complaint under Delaware law to compel the inspection of books and records of Paramount Global in connection with its merger with Skydance Group. This complaint was filed under seal, and a public version is expected by January 6, 2025. The complaint alleges that Paramount failed to comply with a prior demand for information made on November 8, 2024, regarding the fairness of the Skydance merger for minority shareholders, particularly concerning NAI's controlling stake in Paramount. The Schedule 13D relates to 4,768,277 shares of Paramount, equivalent to 11.71% of its total shares outstanding, with GAMCO holding 2,511,336 shares (6.17%).

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