Billionaire investor Mario Gabelli has been complaining that Paramount Global ‘s agreement to merge with Skydance Media was a bad deal for former Class A shareholders of the media company for more than a year. Now his investment firm has officially taken the matter to court.

On Wednesday, Gabelli’s GAMCO filed a lawsuit in Delaware Chancery Court seeking class-action status on behalf of shareholders of Gabelli Value 25 Fund and the approximately 750 separately managed GAMCO advisory clients who held Paramount Global Class A shares prior to the closing of Paramount Global’s merger with Skydance on Aug. 7, 2025. According to the Delaware Chancery Court’s website, the complaint was submitted under seal and “therefore is not available for viewing.”

The lawsuit seeks unspecified monetar

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