Summary by Moomoo AI
On November 8, 2024, GAMCO Investors, Inc. and its affiliates, including Gabelli Funds, LLC and GAMCO Asset Management Inc., filed an amended Schedule 13D with the SEC, disclosing their collective ownership of 4,796,273 shares of Paramount Global Class A common stock, representing 11.78% of the class. The filing, led by Mario J. Gabelli, indicates a significant stake in Paramount Global and includes a letter sent to the FCC by the Gabelli Value 25 Fund questioning the fairness of Paramount's merger with Skydance Group, particularly in relation to the controlling stake held by National Amusements, Inc. (NAI). The Gabelli entities are seeking further investigation into the merger's terms to ensure minority shareholders' interests are protected. The filing also details the beneficial ownership of shares by various entities controlled by Mario Gabelli and outlines their voting and dispositive powers over these shares.
