As Paramount Global and Skydance Media’s exclusive talks about a potential merger continue, Ariel Investments founder and co-ceo John Rogers Jr. told TheWrap that the media conglomerate’s recent stock decline indicates a lack of faith in Skydance’s CEO David Ellison.
Watching the developments closely, the executive said that he could consider legal action in the event that a deal doesn’t appropriately benefit his clients.
The firm, which is a long-term shareholder with a 1.8% stake in Paramount as of the new year, previously told TheWrap Friday that pursuing exclusive talks with Skydance and a deal that would benefit controlling shareholder Shari Redstone at the expense of other shareholders would be “averse” to the company’s fair market value.
On Monday, he added that they are “talking to our outside counsel.”
Paramount shares have fallen 50% in the past year (Credit: Nasdaq)
“It’s something that we’re going...
Watching the developments closely, the executive said that he could consider legal action in the event that a deal doesn’t appropriately benefit his clients.
The firm, which is a long-term shareholder with a 1.8% stake in Paramount as of the new year, previously told TheWrap Friday that pursuing exclusive talks with Skydance and a deal that would benefit controlling shareholder Shari Redstone at the expense of other shareholders would be “averse” to the company’s fair market value.
On Monday, he added that they are “talking to our outside counsel.”
Paramount shares have fallen 50% in the past year (Credit: Nasdaq)
“It’s something that we’re going...
- 4/15/2024
- by Lucas Manfredi
- The Wrap
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