SCHEDULE 13G/A: BlackRock Amends Paramount Global Class B Stake, Reports 6.5% Beneficial Ownership
Beneficial Ownership Report
BlackRock, Inc. has filed an Amendment No. 11 to its Schedule 13G, disclosing a 6.5% beneficial ownership stake in Paramount Global Class B common stock as of December 31, 2024.
Summary
- BlackRock, Inc. filed an Amendment No. 11 to its Schedule 13G regarding its beneficial ownership in Paramount Global Class B Common Stock.
- As of December 31, 2024, BlackRock beneficially owns 40,927,492 shares of Paramount Global Class B Common Stock.
- This ownership represents 6.5% of the total outstanding Class B Common Stock.
- BlackRock holds sole voting power over 38,552,533 shares and sole dispositive power over all 40,927,492 shares.
- The filing states that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Paramount Global.
- BlackRock, Inc. is classified as a parent holding company (HC) for the purpose of this filing.
- BlackRock Fund Advisors is specifically identified as an entity within BlackRock's structure that beneficially owns 5% or greater of the outstanding shares of the security class.
Sentiment
Score: 5
Explanation: Neutral. This is a factual regulatory filing reporting beneficial ownership, not a performance or strategic announcement. It provides no positive or negative operational news about Paramount Global itself.
Future Outlook
The document does not contain any forward-looking statements or guidance regarding Paramount Global's future performance or BlackRock's investment strategy beyond the passive nature of its current holding.
Industry Context
This filing reflects a routine disclosure by BlackRock, one of the world's largest asset managers, regarding its passive investment in a major global media and entertainment company, Paramount Global. It indicates BlackRock's continued significant institutional holding in the media sector.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorneys-in-fact for regulatory filings (BlackRock, Inc.) | N/A (previous Power of Attorney dated April 30, 2023 was revoked) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | Issuance of a new Power of Attorney by BlackRock, Inc., revoking a prior one, to authorize specific individuals to execute and file ownership or control-person reporting requirements. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. issued a new Power of Attorney, effective January 21, 2025, which revokes a previous Power of Attorney dated April 30, 2023. This new document designates specific individuals as attorneys-in-fact to execute and file various ownership and control-person reporting documents with governmental or regulatory authorities on behalf of BlackRock and its subsidiaries. | 2025-01-21 | This update streamlines BlackRock's internal compliance procedures for regulatory filings, ensuring authorized personnel can efficiently manage reporting requirements. |
Stakeholder Impact
- Shareholders of Paramount Global: Provides transparency regarding a significant institutional shareholder's passive ownership stake, confirming BlackRock's continued investment.
- BlackRock Clients/Investors: Confirms BlackRock's holdings in Paramount Global on behalf of its various funds and clients, demonstrating adherence to investment mandates and regulatory disclosure.
Key Dates
| Date | Description |
|---|---|
| 2024-12-31 | Date of event which requires filing of this statement (reporting period end date). |
| 2025-01-21 | Date BlackRock, Inc. executed the new Power of Attorney. |
| 2025-02-06 | Date of filing of this Schedule 13G Amendment No. 11. |
Keywords
BlackRock, Paramount Global, PARA, Class B Common Stock, Schedule 13G, Beneficial Ownership, Institutional Investor, SEC Filing, Investment Management, Passive Investment
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