Wall Street titan Mario Gabelli is slamming a possible merger between Paramount and Skydance Media — and says he’d rather see Paramount exit deal talks altogether. The legendary investor — whose firm through super voting shares and common Paramount stock is the second leading voting shareholder next to media heiress Shari Redstone — added in an interview with the New York Post that he’s also against a sale of Paramount to Apollo Global Management, which has offered $26 billion. (Scott Mlyn/CNBC)
With Viacom CEO Philippe Dauman officially out, analysts are renewing calls for Viacom and CBS to recombine and for Viacom to sell off the struggling Paramount.
Mario Gabelli, the second-largest shareholder in Viacom behind Sumner Redstone, said he believes billionaire John Malone is cooking up a deal for the company. Malone weighed in on the battle for control of the New York media conglomerate Thursday at Allen & Co.’s exclusive business confab in Sun Valley, saying the company’s assets are undervalued because of all the drama around it.
Shareholder Gabelli Says Fisher’s In Play
Investment fund manager Mario Gabelli says the company has received a bid of “$40 or better” and he wants to know why the board of directors isn’t telling shareholders.
Hedge Fund Making Power Play For Fisher
The Seattle-based owner of 13 full-power and seven low-power TVs as well as a major Seattle office building rejected an unsolicited bid from a Canadian real estate firm, but the bid still has the backing of hedge fund and board dissident FrontFour.The fate of the company and its broadcast stations may rest with Mario Gabelli, Fisher’s biggest institutional investor.
