Paramount Global's Redstone family and Ellison propose concessions for shareholder control amid financial struggles and streaming shift.
Paramount Global's Redstone family and independent film producer David Ellison are proposing concessions to appeal to investors in a potential change of control at the company. Ellison offers to buy a block of Paramount shares at a premium to improve finances and the Redstones allow non-voting shareholders to have a say in any transaction. The company is struggling with the shift from traditional TV viewing to streaming, leading to decreased advertising revenue and losses in its Paramount+ service.
April 29, 2024
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