Paramount Directors Agree to $168 Million Settlement Over Merger

Paramount Global directors agreed to a $167.5 million settlement of investors’ lawsuits over the controversial 2019 merger of CBS Corp. and Viacom Inc. that created the entertainment company, according to a securities filing

The settlement with CBS investors was reached April 18 according to a US Securities and Exchange Commission filing made public Friday. The derivative lawsuit means the company receives the money from the settlement, while directors’ insurance may pay for it.

The settlement must still be approved by a judge.

The plaintiffs alleged CBS directors — including board member Shari Redstone — mistreated the network’s investors by agreeing ...