SCHEDULE 13G/A: National Amusements Affiliates Update Controlling Stake in Paramount Global Class A Shares

A group of entities affiliated with National Amusements, including the Sumner M. Redstone National Amusements Part B General Trust, have updated their beneficial ownership of Paramount Global Class A Common Stock, collectively holding 77.4% of the class.

Summary

• This document is an Amendment No. 30 to a Schedule 13G filing, updating the beneficial ownership of Paramount Global's Class A Common Stock.
• The filing was made jointly by SPV-NAIEH LLC, NAI Entertainment Holdings LLC, National Amusements, Inc., and the Sumner M. Redstone National Amusements Part B General Trust.
• These entities are interconnected: SPV-NAIEH LLC is a wholly-owned subsidiary of NAI Entertainment Holdings LLC, which is a wholly-owned subsidiary of National Amusements, Inc. National Amusements, Inc. is controlled by the Sumner M. Redstone National Amusements Part B General Trust, which owns 80% of its voting interest.
• As of December 31, 2024, National Amusements, Inc. and the Sumner M. Redstone National Amusements Part B General Trust each beneficially own 31,500,087 shares of Paramount Global Class A Common Stock.
• This collective ownership represents 77.4% of the total Class A Common Stock outstanding.
• The percentage calculation is based on a total of 40,702,683 shares of Class A Common Stock outstanding as of November 6, 2024, as reported by Paramount Global.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing (Schedule 13G/A) updating beneficial ownership information, and does not contain information that would inherently indicate positive or negative sentiment regarding the company's operational performance or financial health.

Positives

• No direct positives identified as this is a routine regulatory ownership disclosure.

Negatives

• No direct negatives identified as this is a routine regulatory ownership disclosure.

Risks

• No new risks related to Paramount Global's operations or financial health are disclosed in this ownership filing. The document primarily details existing beneficial ownership structure.

Future Outlook

The document is a beneficial ownership disclosure and does not contain any forward-looking statements or guidance regarding Paramount Global's future operations, financial performance, or strategic outlook.

Management Comments

• The filing includes signatures from Tad Jankowski, Vice President of SPV-NAIEH LLC, NAI Entertainment Holdings LLC, and National Amusements, Inc., and Tyler Korff, Director of Sumner M. Redstone National Amusements Part B General Trust, certifying the accuracy of the information.

Industry Context

This filing is a routine update on the ownership structure of Paramount Global's Class A voting shares, confirming the continued controlling interest held by entities associated with the Redstone family. It does not provide insights into broader industry trends or competitive dynamics within the media and entertainment sector.

Comparison to Industry Standards

• NA

Related Party Transactions

• The filing details the ownership structure where SPV-NAIEH LLC is a wholly-owned subsidiary of NAI Entertainment Holdings LLC, which is a wholly-owned subsidiary of National Amusements, Inc. National Amusements, Inc. is controlled by the Sumner M. Redstone National Amusements Part B General Trust. This outlines the existing related-party control structure but does not disclose specific new related-party transactions.

Stakeholder Impact

• Shareholders: The filing clarifies and confirms the continued concentrated voting control of Paramount Global's Class A shares by the National Amusements group, which may be relevant for corporate governance and strategic decision-making.

Next Steps

• The document does not outline any specific future actions, events, or milestones for Paramount Global's business operations or strategy.

Key Dates

Keywords

Paramount Global, National Amusements, Sumner M. Redstone Trust, Class A Common Stock, Beneficial Ownership, SEC Filing, Schedule 13G/A, Controlling Interest