Gabelli's GAMCO alleged that Redstone's investment vehicle, National Amusements, received $60 for each of its Class A Paramount shares while public shareholders only received $23.
Shares, which trade under the ticker PSKY, may have experienced a short squeeze this week.
Paramount Global unveiled plans on Wednesday to retain and develop its stalwart entertainment brands Nickelodeon, MTV, and BET, while sharply increasing feature film production following its $8.4 billion merger with Skydance Media.
Hours after Paramount and UFC announced a billion-dollar rights deal, Dana White said he had yet to hear from his friend, President Donald Trump, on his thoughts about the fight company's new streaming home.That was fine with White. The UFC CEO was set to travel to Washington on Aug. 28 to meet with Trump and his daughter, Ivanka, to catch up and discuss logistics on the proposed Fourth of July fight card next year at the White House.Trump said last month he wanted to stage a UFC match on the White House grounds with upwards of 20,000 spectators to celebrate 250 years of American independence.
Paramount Skydance, the media conglomerate newly created with the merging of giants Skydance Media and Paramount Global, just hit a major cultural milestone: It's been "memed."
Paramount Skydance's stock soars, and has a ‘meme-on-steroids feel.'
Paramount Skydance Corp (NASDAQ: PSKY) surged more than 20% on August 13 after CNBC's Jim Cramer unexpectedly labeled the newly merged media giant a “meme stock.”
Paramount Skydance: This Is A TKO, Alright
Shares of TKO Group (TKO) surged over 7% Monday morning after when the owner of the Ultimate Fighting Championship (UFC) franchise and Paramount Skydance (PSKY) agreed to make the media giant the exclusive home of the UFC.
Paramount Skydance signs a $7.7 billion deal for UFC broadcast rights, in the first big move by its new CEO.
Paramount has acquired the U.S. rights to TKO Group's UFC for $7.7 billion over seven years, beginning in 2026. The agreement is for all 43 annual UFC live events, which will be exclusively streamed in the U.S. on Paramount+.
Under the seven-year deal, UFC fights will be streamed on Paramount+ and select bouts will be simulcast on CBS.