Wire flash
FinanceParamount shareholder sues Ellisons over allegedly illegal Trump-linked deal
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
A press freedom group has filed a lawsuit in Delaware on behalf of Paramount shareholder Paul Robbins, seeking to block Paramount's multi-billion dollar acquisition of Warner Bros. Discovery, which owns CNN. The suit alleges that Paramount insiders, including the Ellison family, are attempting to profit through breaches of their fiduciary duties to the company, with the deal being characterized as 'illegal' due to its connection to former President Donald Trump. The lawsuit aims to prevent insiders from benefiting at the expense of shareholders, highlighting concerns over corporate governance and media consolidation.
Source report
A press freedom group has filed a lawsuit seeking to halt Paramount’s multi-billion-dollar deal to acquire Warner Bros. Discovery, the media conglomerate that owns cable news channel CNN.
The lawsuit, filed in Delaware on behalf of Paramount shareholder Paul Robbins, aims to prevent "Paramount insiders from profiting through breaches of their fiduciary duties to the company."
Source
Just In NewsWestern
Part of this Story
Paramount Shareholder Sues Ellisons Over Allegedly Illegal Trump Deal