Market Chatter: Paramount Global's Sale to Skydance Media May be Blocked by Delaware Judge

MT Newswires Live

Mar 07, 2025

Paramount Global (PARA)'s $8 billion sale to Skydance Media could be blocked from closing after a Delaware judge agreed to consider a class action lawsuit alleging that the sale short-changes public shareholders, Reuters reported Thursday citing a court filing.

Pension funds for New York City employees that own Paramount stock filed a class action lawsuit in Delaware's Court of Chancery saying that a special committee of Paramount's board did not consider a $13.5 billion proposal to acquire Paramount, according to the report.

Chancellor Kathaleen McCormick agreed to expedite the pension funds' lawsuit but declined to issue a temporary restraining order to block the deal, Reuters said.

Paramount and Skydance did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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