[SCHEDULE 13G/A] Paramount Global SEC Filing

Rhea-AI Filing Summary

Paramount Global's Schedule 13G amendment discloses that the Sumner M. Redstone National Amusements Part B General Trust no longer controls National Amusements, Inc. after Pinnacle Media Ventures, LLC; Pinnacle Media Ventures II, LLC; Pinnacle Media Ventures III, LLC; and RB Tentpole Holdings LP purchased all outstanding equity interests on August 7, 2025. The filing reports the General Trust beneficially owns 0 Class A shares representing 0% of the class and states 0 sole or shared voting or dispositive power. NA Administration, LLC is named as corporate trustee and acts by majority vote of seven voting directors.

Insights

Financial Analyst

TL;DR: The General Trust reports zero beneficial ownership after selling its stake in National Amusements, removing its voting and dispositive power.

The filing plainly shows a transfer of the equity interests that ended the General Trust's control of National Amusements, with the reporting person declaring 0 shares and 0% ownership of Paramount Global Class A stock. From a shareholder structure perspective, this is a clear change in ultimate control of the former holding entity and eliminates any lingering voting influence the reporting person previously held.

Corporate Governance Expert

TL;DR: Control of the parent holding company shifted to new investors; the trustee remains NA Administration, LLC, governed by seven voting directors.

The document identifies NA Administration, LLC as corporate trustee acting by a majority of seven voting directors, and records that the General Trust ceased to control National Amusements following the acquisition of its outstanding equity interests by several Pinnacle-related entities and RB Tentpole Holdings LP. This is a material governance change because the prior reporting person no longer claims voting or dispositive power over the Class A shares.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 31)

Paramount Global

(Name of Issuer)

Class A Common Stock, par value $0.001 per share

(Title of Class of Securities)

92556H107

(CUSIP Number)

08/07/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 92556H107

1

Names of Reporting Persons

Sumner M. Redstone National Amusements Part B General Trust

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Paramount Global
(b)	Address of issuer's principal executive offices: 1515 BROADWAY, NEW YORK, NY, 10036
Item 2.
(a)	Name of person filing: Sumner M. Redstone National Amusements Part B General Trust. On August 7, 2025, Pinnacle Media Ventures, LLC, Pinnacle Media Ventures II, LLC and Pinnacle Media Ventures III, LLC and RB Tentpole Holdings LP purchased all of the outstanding equity interests of National Amusements, Inc., a Maryland corporation ("NAI"), owned by the Sumner M. Redstone National Amusements Part B General Trust (the "General Trust"), and the General Trust ceased to control NAI. NA Administration, LLC is the corporate Trustee of the General Trust and acts by majority vote of seven voting directors (subject to certain exceptions).
(b)	Address or principal business office or, if none, residence: 275 Veronica Lane, Suite 300, Jackson, WY 83002
(c)	Citizenship: Florida
(d)	Title of class of securities: Class A Common Stock, par value $0.001 per share
(e)	CUSIP No.: 92556H107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Sumner M. Redstone National Amusements Part B General Trust

Signature:	/s/ Tyler Korff
Name/Title:	Tyler Korff/Director
Date:	08/12/2025

FAQ

How many Paramount Global (PARAA) Class A shares does the Sumner M. Redstone National Amusements Part B General Trust beneficially own?

The filing states the reporting person beneficially owns 0 Class A shares, representing 0% of the class.

Who acquired National Amusements' equity interests according to the PARAA Schedule 13G/A?

The filing names Pinnacle Media Ventures, LLC, Pinnacle Media Ventures II, LLC, Pinnacle Media Ventures III, LLC and RB Tentpole Holdings LP as the purchasers.

When did the transaction that ended the General Trust's control of National Amusements occur?

The filing indicates the purchasers acquired all outstanding equity interests on August 7, 2025.

Does the General Trust retain any voting or dispositive power over PARAA Class A shares?

No. The filing reports 0 sole voting power, 0 shared voting power, and 0 sole or shared dispositive power.

Who is the trustee for the General Trust as stated in the filing?

The filing names NA Administration, LLC as the corporate trustee, which acts by majority vote of seven voting directors.