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Paramount (PARA) Expands Board Amid Skydance Merger Challenges

On June 2, Paramount Global (NASDAQ:PARA) confirmed the appointment of three new directors to boost its board strength to seven. Mary Boies, Charles Ryan, and Roanne Sragow Licht are joining the board when the company is seeking regulatory approval on its proposed $8.4 billion merger with Skydance Media.

The Lobby Entertainment Network digital displays showing dynamic and visually engaging advertisements.

The company has hit significant roadblocks on the proposed merger after being hit with a $20 billion lawsuit for allegedly editing an interview with then-vice president Kamala Harris. US President Donald Trump accused the Paramount-owned CBS News of editing the interview to tip the scales in favor of the Democratic Party ahead of the hotly contested presidential elections.

The lawsuit is a significant roadblock to the proposed Paramount and Skydance merger. With President Trump at the helm, the company faces an uphill task to secure regulatory approval from the US Federal Communication Commission. Consequently, Paramount has moved to strengthen its board in case negotiations with Trump to settle the lawsuit fall through.

The new board nomination also signals Paramount plans to continue operating as an independent company should the proposed merger with Skydance Media fall through. The company hoped to close the deal in the year’s first half.

Paramount Global is a media and entertainment company that works all over the world. It has three main areas—TV channels, streaming services, and movie production.

While we acknowledge the potential of Paramount Global (NASDAQ:PARA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PARA and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None.

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  • 140 Metas
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