Mario Gabelli, a major shareholder of Paramount and its predecessor companies, is demanding more information about the company's merger with Skydance.

Shares of Paramount Global surged as much as 9% after hours after reports emerged that controlling shareholder National Amusements had reached a preliminary deal with past suitor Skydance to sell its stake in the media company.

Investor Mario Gabelli raises concerns over what the National Amusements head will receive for her A shares in Sunday’s deal

Paramount Global announced Monday it will merge with Skydance Media, a deal that’s been many months in the making.

Skydance Media has reached a preliminary agreement to buy Shari Redstone's family company National Amusements and merge with Paramount Global, the Wall Street Journal reported on Tuesday. Shares of Paramount were up 9% in after-hours

Paramount Global’s merger with Skydance Media will reward Skydance and Shari Redstone's National Amusements. But it's a bad deal for average shareholders. We do the math.

Paramount Global may soon have to turn over records related to a bid by Skydance to take control of the company. In a much-expected revolt over treatment of minority investors, billionaire money manager Mario Gabelli on Friday filed a lawsuit in Delaware Chancery Court for access to Paramount’s books.