New York City Pension Funds Seek to Pause Paramount-Skydance Merger
variety.comGene Maddaus Senior Media Writer A group of New York City pension funds asked a judge in Delaware this week to issue an injunction that would pause the $8 billion Paramount-Skydance merger.
The litigation comes as investors are lining up in Delaware Chancery Court to challenge the deal on the grounds that it is excessively favorable to Shari Redstone, the controlling shareholder.
Because it owns CBS, Paramount Global also must win approval for the merger from the Federal Communications Commission. That has been called into doubt as the Trump administration’s FCC chairman investigates allegations that “60 Minutes” distorted an interview with Kamala Harris.
In hopes of expediting the merger, Paramount is also said to be considering settling a lawsuit filed by President Trump last year over the “60 Minutes” segment.
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