Legal threat from Mario Gabelli was ‘major factor’ in collapse of Paramount’s $8B deal with Skydance
NY Post
A legal threat from investor Mario Gabelli was a “major factor” in this week’s implosion of Shari Redstone’s $8 billion deal to merge Paramount Global with its “Mission: Impossible” production partner Skydance Media, The Post has learned.
When Redstone made a surprise move to pull the plug on the deal this week — just before a Paramount special committee was poised to vote on it — she was looking down the barrel of a $100 million-plus lawsuit from Gabelli over the deal, according to sources close to the situation.
The 70-year-old media heiress hadn’t been in any recent discussions with Gabelli, who has long been a key Paramount investor, sources close to the situation said.
Nevertheless, other Paramount shareholders had ripped Redstone for seeking a premium for her stock over other that of other Paramount investors.
A rep for Redstone didn’t immediately respond to a request for comment.
In an exclusive interview with The Post, the 81-year-old billionaire — a self-described “Bronx tough guy” long famous for his savvy media investments — declined to discuss any specifics around prospective litigation over Paramount.
