Oct 29, 2024 activistcompany

GAMCO Presses for Transparency in Paramount(PARA)-NAI Deal After Court Finds Credible Basis for Wrongdoing

Key Summary: On October 25, 2024, GAMCO (11.82%) issued a press release urging Paramount’s board to review Project Rise Partners' higher offer. On April 23, 2025, GAMCO Investors (GAMI) reaffirmed its pursuit of Operation Fishbowl, alleging NAI secured extra compensation in the Skydance deal not offered to other shareholders.

Market Cap: $8.1 billion | Paramount Global operates as a media, streaming, and entertainment company worldwide.

On October 25, 2024, GAMCO (11.82%) issued a press release urging Paramount’s board to review Project Rise Partners' higher offer, despite the “Go Shop” period ending on August 21, 2024, and demanded an explanation if the offer is not considered.

On April 23, 2025, GAMCO Investors (GAMI), stated that it is pursuing Operation Fishbowl to ensure transparency over what National Amusements (NAI), controlled by Shari Redstone, will receive for its voting shares. GAMI alleges NAI secured additional compensation in the Skydance transaction not offered to other shareholders. The Delaware Chancery Court found GAMI’s Gabelli Value 25 Fund presented a credible basis to suspect wrongdoing by Paramount. GAMI contends NAI's shares are valued higher than the $23 per share offered to minority shareholders and will continue efforts to ensure equitable treatment. Source

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