Paramount Global said that, pending court approval, it will receive $167.5 million in settlement of a suit by shareholders of the former CBS Corp. against some of the broadcaster’s former off…
Corp. against some of the broadcaster’s former officers and directors, including Shari Redstone and Joseph Ianiello. Called a derivative suit, it’s filed on behalf of the company, whose parent is getting the cash.and CBS stockholders, in Delaware Chancery Court, both related to the 2019 merger of Viacom and CBS. ViacomCBS changed its name to Paramount Global in Feb. of 2022.
The Viacom suit was settled last year, with Paramount agreeing to pay shareholders $122 million directly in a settlement. The CBS suit was a bit different in structure, brought on behalf of the company against Shari Redstone, National Amusements, CBS board members, andThe complaint, a consolidation of three class action suits, alleges breaches of fiduciary duties in connection with the negotiation and approval of the merger agreement.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paramount to Pay $167.5M to Settle Shareholder Suit Tied to CBS-Viacom MergerThe settlement comes a month after the company agree to pay $122.5M in a similar suit.
Read more »
Paramount to Receive $167.5M to Settle Shareholder Suit Tied to CBS-Viacom MergerThe settlement comes a month after the company agree to pay $122.5M in another suit related to the merger.
Read more »
Paramount finally gets around to issuing a $50 million South Park counter-suitParamount finally gets around to issuing a $50 million South Park counterclaim against Warner Bros.
Read more »
Korean Series ‘A Bloody Lucky Day’ and ‘Queen Woo’ Added to Paramount+ Tving SlateStreaming services Paramount+ and Tving have greenlighted two new jointly-developed Korean TV series. They are the product of an ongoing relationship between parent companies Paramount Global and K…
Read more »
Warner Bros. Discovery Owes $52 Million for ‘South Park’ Streaming Rights, Paramount AllegesParamount Global fired back on Wednesday in the battle over “South Park” streaming rights, accusing Warner Bros. Discovery of withholding $52 million in license fees. WBD sued Paramount…
Read more »
Paramount+ Boosts Korean Content Slate With Original Dramas ‘A Bloody Lucky Day’ and ‘Queen Woo’The streamer is going bigger on Korean content after its recently launched K-drama 'Yonder' became its most-watched international series in the U.S. this year.
Read more »