SCHEDULE: Gabelli Entities Divest Paramount Global Stake

Gabelli entities, including GAMCO Investors, Inc., have fully divested their Class A Common Stock in Paramount Global following its acquisition by Skydance Corporation.

Summary

• Reporting persons, including GAMCO Investors, Inc. and various Gabelli entities, no longer hold beneficial ownership of Paramount Global Class A Common Stock.
• The divestment occurred on August 7, 2025, as a direct result of the completion of Paramount Global's acquisition by Skydance Corporation.
• All shares were sold at a price of $23.00 per share.
• The reporting persons ceased to be beneficial owners of 5% or more of Paramount Global's common stock on August 7, 2025.

Sentiment

Score: 5

Explanation: The filing is neutral, reporting a factual transaction (divestment due to acquisition) without expressing a positive or negative outlook on the underlying company's future performance.

Positives

• Reporting persons successfully exited their investment in Paramount Global at a defined price of $23.00 per share due to the acquisition.
• The completion of the acquisition provides a clear liquidity event for the divested shares.

Negatives

• Reporting persons no longer hold any beneficial ownership in Paramount Global, precluding participation in any potential future appreciation of the company.

Risks

• No specific operational or financial risks for Paramount Global are detailed in this filing, as it pertains to a change in beneficial ownership by a third party.

Future Outlook

This filing does not provide any forward-looking statements or guidance regarding Paramount Global's future operations or financial performance, as it solely reports a past transaction related to beneficial ownership.

Industry Context

The divestment of shares by Gabelli entities is a direct consequence of the acquisition of Paramount Global by Skydance Corporation, a significant consolidation event within the media and entertainment industry, reflecting ongoing shifts in content ownership and distribution.

Stakeholder Impact

• Shareholders of Paramount Global, including the reporting persons, were directly impacted by the acquisition, leading to the sale of their shares at the acquisition price.

Key Dates

Keywords

Paramount Global, Skydance Corporation, GAMCO Investors, Gabelli, Divestment, Acquisition, Media, Entertainment, Beneficial Ownership