Latest news with #MaryBoies
Yahoo
5 days ago
- Business
- Yahoo
Paramount Global to Add Three New Board Directors As It Deals With Trump Lawsuit, FCC Review
At a critical moment for the company, Paramount Global says that it will add three new independent directors to its board, asking shareholders to support the nominees at its upcoming annual meeting. In its proxy filing, filed Monday, Paramount said that attorney Mary Boies, former judge Roanne Sragow Licht and venture capitalist Charles Ryan have been nominated to join its board. The trio were nominated by the board's governance committee, after being introduced to the board by 'a non-management director and stockholder of the Company.' More from The Hollywood Reporter Paramount Plans Immersive 'Top Gun' Experience in Las Vegas Paramount May Usher In a Big Change to Hollywood's Ruling Class (Guest Column) Upfronts Kick Off: Hollywood's Ad Dollar Scramble Arrives in Strangest Market in Years Paramount's board has been light for the past year after four board members opted to step down at last year's annual meeting, and with Charles Phillips exiting late last year. This year's annual meeting gives the company a chance to freshen up the board, allowing it to proceed as business as usual. Of course, the nominations come as the company goes through a number of things that are anything but business as usual. Paramount agreed to sell to Skydance last year, but that deal is still being reviewed by the Federal Communications Commission. At the same time, President Donald Trump has an active lawsuit against the company over an interview that CBS' 60 Minutes conducted with Vice President Kamala Harris. The two sides are currently in mediation talks to try and resolve the suit. Paramount is reported to have offered $15 million to resolve the suit. The FCC is also reviewing the interview via its 'news distortion' purview. Paramount chair Shari Redstone and the company's three co-CEOs Chris McCarthy, Brian Robbins and George Cheeks alluded to the issues in their annual letter to shareholders, which was also published Monday. 'Against the backdrop of a dynamic and complicated time in the macro-economic environment and our industry, we are proud that 2024 proved to be a transformative year for Paramount,' they wrote, touting improved profitability in streaming, ratings success at CBS and new franchise development. 'As the FCC continues its review of the Skydance transactions, we remain focused on delivering high-performing hits, supporting our creative culture, and driving value for shareholders.' The new board members are important because if the Skydance deal does not move forward, they will need to help the company chart a new course. And the board would likely need to sign off on any final settlement in the lawsuit. Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
02-06-2025
- Business
- Reuters
Paramount Global nominates three board directors as Skydance merger awaits approval
June 2 (Reuters) - Paramount Global (PARA.O), opens new tab nominated three new directors on Monday, seeking to boost its board strength to seven as it awaits regulatory approval for its $8.4 billion merger with Skydance Media. Paramount nominated Mary Boies, counsel to Boies Schiller Flexner LLP, Charles Ryan, co-founder and general partner of Almaz Capital, and Roanne Sragow Licht, former justice and adjunct professor at Boston University and Roger Williams University. U.S. President Donald Trump filed a $10 billion lawsuit against Paramount-owned CBS News in October, alleging that the network deceptively edited an interview with then-vice president and presidential candidate Kamala Harris, to "tip the scales in favor of the Democratic Party" in the election. Trump's lawsuit is seen as a major roadblock to the Paramount-Skydance merger, according to some analysts. The merger requires approval from the U.S. Federal Communications Commission, which has authority over the transaction because it needs to approve the transfer of the broadcast television licenses held by CBS. Paramount, chaired by Shari Redstone, reportedly offered $15 million to settle the suit. Trump raised his claim for damages to $20 billion in February. The Wall Street Journal reported last week that the company wanted to ensure it had a full board in place in case its negotiations with Trump to settle his lawsuit fell through. Paramount is scheduled to hold its annual stockholder meeting on July 2.
Yahoo
02-06-2025
- Business
- Yahoo
Paramount Global nominates three board directors as Skydance merger awaits approval
(Reuters) -Paramount Global nominated three new directors on Monday, seeking to boost its board strength to seven as it awaits regulatory approval for its $8.4 billion merger with Skydance Media. Paramount nominated Mary Boies, counsel to Boies Schiller Flexner LLP, Charles Ryan, co-founder and general partner of Almaz Capital, and Roanne Sragow Licht, former justice and adjunct professor at Boston University and Roger Williams University. U.S. President Donald Trump filed a $10 billion lawsuit against Paramount-owned CBS News in October, alleging that the network deceptively edited an interview with then-vice president and presidential candidate Kamala Harris, to "tip the scales in favor of the Democratic Party" in the election. Trump's lawsuit is seen as a major roadblock to the Paramount-Skydance merger, according to some analysts. The merger requires approval from the U.S. Federal Communications Commission, which has authority over the transaction because it needs to approve the transfer of the broadcast television licenses held by CBS. Paramount, chaired by Shari Redstone, reportedly offered $15 million to settle the suit. Trump raised his claim for damages to $20 billion in February. The Wall Street Journal reported last week that the company wanted to ensure it had a full board in place in case its negotiations with Trump to settle his lawsuit fell through. Paramount is scheduled to hold its annual stockholder meeting on July 2. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
02-06-2025
- Business
- Bloomberg
Paramount Names New Board Members Including Ex-Judge, Attorney
Paramount Global nominated three new members to its board of directors and one stepped down, bringing the total to seven as the media and entertainment company faces a lawsuit from the US president and seeks merger approval. The company named Charles Ryan, general partner at venture capital firm Almaz Capital; Mary Boies, counsel at law firm Boies Schiller Flexner; and former judge Roanne Sragow Licht as nominees. Judith McHale is not standing for re-election
