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Shari Redstone’s Secret Letter

Two lawsuits and a “careless” private email promise an inside look at Paramount’s M&A ambitions—including, potentially, Shari’s plans for CBS.

Shari Redstone, Paramount Global’s controlling owner, is facing not one but two advanced shareholder lawsuits over how she melded CBS and Viacom a few years ago.
Shari Redstone, Paramount Global’s controlling owner, is facing not one but two advanced shareholder lawsuits over how she melded CBS and Viacom a few years ago. Photo: Kevin Dietsch/Getty Images
Eriq Gardner
February 6, 2023

While Paramount Global stock is up nearly 30 percent over the past month, Shari Redstone, the company’s controlling owner, is facing not one but two advanced shareholder lawsuits over how she melded CBS and Viacom a few years ago. This past Wednesday, the four dozen or so lawyers involved agreed on a schedule for the home stretch: Pending a Delaware Court of Chancery judge’s blessing, it will all culminate in a six-day trial for CBS shareholders in late June, followed by another six-day trial for Viacom shareholders in early July. There are no signs of any peaceful resolution.