Reported 11 months ago
Shari Redstone received the fewest votes among other directors in Paramount Global's board election, with 32.2 million votes for her election being the lowest out of six candidates. Redstone also had the most votes against her election at over 905,000. The company's co-CEOs proposed a restructuring plan involving cost cuts, potential asset sales, and partnerships for its Paramount+ streaming service at the annual shareholder meeting. Paramount is facing challenges in its traditional TV business and has been in negotiations with Skydance Media for a merger after Skydance CEO David Ellison adjusted an initial $2.5 billion offer for National Amusements, upsetting Redstone.
Source: YAHOO