Jeff Sagansky, Harry Sloan Pay $10 Million to Settle Skillz Case

A group of Hollywood veterans and entertainment industry insiders will pay $10 million to end litigation over the blank-check transaction that took online gaming platform Skillz Inc. public.

The settlement disclosed late Monday would resolve class action claims targeting the merger between Skillz and a special purpose acquisition company. The deal’s architects—including CBS Entertainment ex-president Jeff Sagansky and former MGM Studios chairman Harry Sloan—previously orchestrated a similar listing for sports betting giant DraftKings Inc.

Scores of SPAC transactions have landed in court as the sector underperformed in the open market after a boom in 2020 and 2021. The Skillz ...