Paramount Shareholder Slams Redstone's Deal to Sell Studio to Skydance as Detrimental, Calls for Reconsideration of Apollo Bid

• Paramount investor Matrix Asset Advisors sent letter slamming Shari Redstone's deal to sell Paramount to Skydance, calling it "detrimental" • Deal could see Redstone get over $2B in cash, while other shareholders get diluted stakes in speculative Skydance investment • Matrix says Apollo Global's $26B bid for Paramount not properly considered; asks board to give Apollo same 30-day diligence as Skydance
• Skydance owned by David Ellison, son of billionaire Larry Ellison; in exclusive talks to buy controlling stake from Redstone • Matrix says deal would "likely invite shareholder lawsuits" and breach board's responsibilities