{"id":559212,"date":"2023-03-04T01:06:53","date_gmt":"2023-03-03T22:06:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/paramount-will-pay-122-5m-to-settle-cbs-viacom-merger-lawsuit\/"},"modified":"2023-03-04T01:06:53","modified_gmt":"2023-03-03T22:06:53","slug":"paramount-will-pay-122-5m-to-settle-cbs-viacom-merger-lawsuit","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/paramount-will-pay-122-5m-to-settle-cbs-viacom-merger-lawsuit\/","title":{"rendered":"#Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36897d64aeb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36897d64aeb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/paramount-will-pay-122-5m-to-settle-cbs-viacom-merger-lawsuit\/#Paramount_Will_Pay_1225M_to_Settle_CBS-Viacom_Merger_Lawsuit\" >Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Paramount_Will_Pay_1225M_to_Settle_CBS-Viacom_Merger_Lawsuit\"><\/span>Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Paramount Global has agreed to settle a shareholder lawsuit that claimed that the 2019 CBS-Viacom merger was unfair for shareholders.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    According to a securities filing Friday, Paramount will pay the shareholders $122.5 million to settle the claims, subject to a long-form settlement agreement and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval by Delaware\u2019s Chancery Court.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The California Public Employees\u2019 Retirement System (\u201cCalPERS\u201d) was lead plaintiff in the litigation, which also named Shari Redstone and the Redstone family\u2019s National Amusements as defendants. Paramount CEO Bob Bakish was also a defendant, but was removed from the suit in Dec. 2020.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Indeed, Redstone was at the center of the suit, which claimed that Viacom\u2019s board accepted a lower price for the merger in order to secure Redstone\u2019s governance priorities (namely that the company would be led by Bakish and much of his executive team).<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cPlaintiffs allege that the willingness of the fiduciaries who served on Viacom\u2019s transaction committee to allow Ms. Redstone to dominate their decision-making rendered them servile tools in Ms. Redstone\u2019s relentless pursuit of a Viacom\/CBS combination to advance her interests,\u201d Vice Chancellor Joseph Slights wrote in a Dec. 2020 decision allowing the litigation to proceed.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Slights added in another decision a month later that the claims \u201callow a reasonable inference that CBS\u2019s acquisition of Viacom was motivated not only by Ms. Redstone\u2019s concerns about Viacom\u2019s viability as a going concern, but also her desire to shop NAI following their consolidation.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Redstone, of course, pushed for the merger of the companies that her father, the tycoon Sumner Redstone, had built over decades. Sumner Redstone died in Aug. 2020 at age 97.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The CBS-Viacom merger created a new company, led by Bakish, called ViacomCBS, with Redstone serving as non-executive chairman. The company renamed itself Paramount Global last year.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    Paramount also notes that it is also in litigation with some of its insurers, and adds that \u201cpending recovery of any such insurance proceeds, the Company will advance funds for the settlement when they become due.\u201d<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    The CBS-Viacom merger, Shari Redstone\u2019s relationship to her father, and her effort to reunite the companies, is a centerpiece of a new business book called <em>Unscripted: The Epic Battle for a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> Empire and the Redstone Family Legacy<\/em>, by James B. Stewart and Rachel Abrams.<\/p>\n<p class=\"paragraph larva \/\/  a-font-body-m     \">\n    \u201cAll children feel the need to prove themselves. But she was really under a burden here,\u201d Stewart told <em>The Hollywood Reporter<\/em> in February. \u201cI think one of the most poignant scenes in the book is at the end. Shari loved her father and desperately wanted his recognition and approval. There\u2019s a poignant scene at the end where, after his funeral, she goes to her father\u2019s closest confidant, an old friend and business colleague, and asks him, essentially, \u201cDo you think he loved me?\u201d I mean, I\u2019m telling you, it almost makes me cry. It\u2019s so sad that she had to ask that.\u201d<\/p>\n<\/p><\/div>\n<p><script type=\"text\/plain\" class=\"optanon-category-C0004\">\n!function(f, b, e, v, n, t, s) {\nif (f.fbq) return;\nn = f.fbq = function() {n.callMethod ? n.callMethod.apply(n, arguments) : n.queue.push(arguments);};\nif (!f._fbq) f._fbq = n;\nn.push = n;\nn.loaded = !0;\nn.version = '2.0';\nn.queue = [];\nt = b.createElement(e);\nt.async = !0;\nt.src = v;\ns = b.getElementsByTagName(e)[0];\ns.parentNode.insertBefore(t, s);\n}(window, document, 'script', 'https:\/\/connect.facebook.net\/en_US\/fbevents.js');\nfbq('init', '352999048212581');\nfbq('track', 'PageView');\n<\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more Like this articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/social-media\/\" target=\"_blank\" rel=\"noopener\">Social Media category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.hollywoodreporter.com\/business\/business-news\/paramount-settles-cbs-viacom-merger-lawsuit-1235340437\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paramount Will Pay $122.5M to Settle CBS-Viacom Merger Lawsuit Paramount Global has agreed to settle a shareholder lawsuit that claimed that the 2019 CBS-Viacom merger was unfair for shareholders. According to a securities filing Friday, Paramount will pay the shareholders $122.5 million to settle the claims, subject to a long-form settlement agreement and approval by&#8230;<\/p>\n","protected":false},"author":1,"featured_media":559213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.hollywoodreporter.com\/wp-content\/uploads\/2023\/03\/Bob-Bakish-and-Shari-Redstone-Ribbon-Cutting-GettyImages-632807850-H-2023.jpg?w=1024","fifu_image_alt":"","footnotes":""},"categories":[17],"tags":[134879,26655],"class_list":["post-559212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-mediaa","tag-paramount-global","tag-viacomcbs"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/559212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=559212"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/559212\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/559213"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=559212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=559212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=559212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}