Paramount-Skydance Merger Extension Kicks In as Trump Lawsuit Clears
Warning! GuruFocus has detected 7 Warning Signs with PARA.
The timing follows a key development: Paramount (PARA, Financials) agreed to a $16 million settlement with Donald Trump, ending a year-long lawsuit over how 60 Minutes edited an interview with Kamala Harris. Trump initially sued for $20 billion; the case later morphed into a broader commercial dispute after his 2024 election win.
While the case was considered weak, Paramount decided to settle. Co-CEO George Cheeks told shareholders it was about avoiding drawn-out litigation and keeping the focus on business. The settlement covers Trump's legal fees and includes a donation to his presidential library but no apology or admission of wrongdoing.
The FCC still needs to approve the transfer of CBS licenses to David Ellison's Skydance. That process is expected to move more smoothly now that the Trump suit is out of the way one less political roadblock in a deal that's already taken over a year to structure.
Paramount's controlling shareholder, Shari Redstone, had been eager to resolve the dispute and move forward. For now, the merger remains in motion; the finish line may finally be in sight.
This article first appeared on GuruFocus.
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