Paramount Global Urges Rejection of Special Meeting Rules Change

Paramount Global's board is recommending a "no" vote at the annual meeting June 8 on a shareholder proposal to reduce by half the threshold of stock ownership necessary to call a special shareholder meeting. It's the only shareholder proposal on the agenda for the former ViacomCBS, per the company's proxy statement. The board thinks the existing threshold should be retained to prevent the risk of misuse of the special meeting right for interests not supported by a majority of shareholders, said the proxy, while the proponent argues the current bar for calling a special shareholder meeting is too high. The annual meeting will be held virtually beginning at 9:30 a.m. EDT, said the proxy.