© Reuters. FILE PHOTO: ViacomCBS headquarters is pictured in New York, New York, U.S. December 5, 2019. REUTERS/Kate Munsch
(Reuters) -Paramount World has agreed to a $167.5 million settlement of a case stemming from the 2019 merger of Viacom Inc and CBS Corp (NYSE:) that created the leisure firm, a submitting confirmed.
The settlement, reached on Tuesday, offers for the dismissal of the case in alternate for the fee to Paramount, in accordance with a Securities and Alternate Fee submitting printed on Friday.
CBS shareholders filed three separate fits, which had been later consolidated, alleging the corporate had overpaid for Viacom, clearing the best way for media mogul Shari Redstone to reunite the household’s media holdings.
Paramount reached a $122.5 million settlement in March with Viacom shareholders that additionally stemmed from the merger.
