Paramount has been mostly out of the news lately, but that doesn’t mean nothing is going on behind the scenes in its messy, years-long attempt to sell itself before settling on a merger with Skydance Media.
Bank of America chief Brian Moynihan raises eyebrows by taking on chancellor role for Corporation of Brown University Paramount Global, which won’t be in Skydance’s hands officially until sometime next year, has been dragging its feet on disclosure , other than providing the very rudimentary deal terms, Gabelli says.Gabelli is keeping those cards close. His firm has filed something called a “220” notice with the courts to get the Shari information. At least one shareholder suit has been filed without doing the 220 dance.
Its foray into streaming was a costly mess. Its stock lost tens of billions in market value. The company is barely profitable, and only as it slashes costs and headcount.