Paramount Shareholder Mario Gabelli Asks FCC To Delay Review Of Skydance Merger Pending His Request For More Financial Details
deadline.comLongtime Paramount Global shareholder Mario Gabelli, who had agitated against iterations of the Skydance-Paramount merger deal, is stepping up his campaign for more transparency around the deal.
Lawyers for Gabelli, who operates an investment fund holding 12.5% of Paramount Class A shares and about 900,000 Class B shares, sent the Federal Communications Commission a letter regarding the matter.
The letter, dated last Friday and made public on Tuesday, asks that the FCC‘s review of the deal be paused pending a more thorough review of its financials.
The FCC must approve the transfer of CBS broadcast licenses to Skydance. Gabelli has long harbored suspicions that Paramount chair and controlling shareholder Shari Redstone enriched herself at the expense of some shareholders in sealing the merger pact.
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