Todd Spangler NY Digital Editor Billionaire investor and money manager Mario Gabelli likes what David Ellison and the Skydance Media team said about their rationale for merging the media and production company with Paramount Global.
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.
Gabelli is the founder, chairman and CEO of GAMCO Investors, which represents clients who own about 12.5% of the Class A voting shares of Paramount Global.
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. “I’m very impressed with what they said,” Gabelli said.
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