Paramount shareholder sues to block Shari Redstone's deal with Skydance

A Paramount Global investor has sued to block its merger with Skydance Media, saying the deal would cost its shareholders $1.65 billion, according to a lawsuit filed in Delaware's Chancery Court on Wednesday. The lawsuit, filed by Scott Baker, claims the merger's primary purpose is to cash out media mogul Shari Redstone's investment in Paramount at a substantial premium, while other stockholders will receive a significantly lower payout. Ellison's Skydance Media bagged a deal to acquire Paramount early in J ...