Paramount Global shareholder Mario Gabelli has filed a formal complaint in the Delaware Court of Chancery to compel the media giant to comply with his books and records request related to its pending $8 billion merger with Skydance Media.
Under a Section 220 demand, Gabelli’s Value 25 Fund asked Paramount back in July 2024 to allow it to inspect its books and records to investigate “potential fiduciary and/or federal securities violations” against the media giant’s minority shareholders in connection with the deal. Gabelli is seeking more information about how much Paramount’s controlling shareholder Shari Redstone will receive for her Class A shares.