Famed money manager Mario Gabelli, one of the largest shareholders in Paramount Global, urged the Federal Communications Commission to halt its review of the transfer of broadcast licenses in the media giant’s $8 billion merger with Skydance.
Gabelli filed the request with the FCC on Nov. 8 — four days after Paramount released a 699-page S-4 prospectus with the Securities and Exchange Commission about the Skydance deal, which would hand control of assets that include CBS to the independent studio owned by tech heir David Ellison. 'Deadbeat' hedge fund boss who's being sued by his own mom has been living it up in Miami — while clients demand cash backHowever, Gabelli’s letter to the FCC claims Paramount’s “proxy statement does not provide adequate disclosures concerning the process leading up to board approval of the merger or the fairness of the merger consideration.”