Paramount Shareholder Targets Ellisons Over WBD Pursuit, Paramount Responds

A Paramount shareholder filed a derivative lawsuit in Delaware Chancery Court against CEO David Ellison, Larry Ellison, and Paramount’s board, alleging breach of fiduciary duty in pursuing the Warner Bros. Discovery merger and claiming promises to overhaul CNN and other actions were made to secure regulatory approval. Paramount pushed back, saying the suit recycles previously reported allegations and that no commitments were made to any government body beyond delivering truthful journalism, while maintaining the merger’s merits. The filing follows other antitrust challenges and lawsuits related to the deal from state attorneys general, WGA, and Paramount+ subscribers.