A lawsuit has been filed in Delaware Chancery Court by shareholders seeking to block Paramount's bid to acquire Warner Bros. Discovery. The lawsuit alleges that David Ellison and his father, Larry Ellison, made an illegal agreement with President Trump to facilitate the merger. The investors claim that the Ellisons promised significant changes at CNN in exchange for the acquisition approval, including up to $20 million in advertising and a $16 million payment to Trump related to a prior settlement. The complaint states that these actions could create substantial financial and legal risks for Paramount. It also mentions a coalition of state attorneys general and other parties suing to halt the merger. Paramount has denied any wrongdoing and stated that it is unaware of any commitments made to Trump. The lawsuit follows reports of declining viewership for CBS and claims of a talent exodus due to changes in coverage.
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Lawsuit Filed Against Ellisons Over Alleged Deal with Trump Related to Paramount Acquisition
A lawsuit has been filed against David and Larry Ellison by shareholders who allege that they made an illegal deal with President Trump to facilitate Paramount's acquisition of Warner Bros. Discovery. The lawsuit claims that this agreement could pose significant financial and legal risks for Paramount. The company has denied the allegations and stated it has no knowledge of any commitments made to Trump.
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David and Larry Ellison Sued by Paramount Investor Over Alleged Trump Side Deal
Lawsuit Filed Against Ellisons Over Alleged Deal with Trump Related to Paramount Acquisition