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Skydance Slams ‘Unserious’ Rival Bidders for Paramount as Trying to ‘Hijack’ FCC Proceeding
Lawyers for Skydance are trying to fend off efforts by Project Rise investors to force Paramount to evaluate a higher $13.5 billion takeover offer.
The Skydance lawyers said it was “nonsense” to suggest that the passive investment of Tencent in the newly merged company would “afford the Chinese government influence over New Paramount and compromise national security.” The letter said the Skydance-Paramount deal “will ensure that New Paramount is controlled solely by American citizens and entities — the Ellison Family and RedBird Capital Partners,” which will hold all the voting shares and most of the merged entity. “The efficiencies enabled by AI will help New Paramount make strategic investments in the legendary newsgathering and reporting efforts of the national CBS television network and the company’s owned-and-operated local stations, ensuring that they continue to serve as trusted sources of news,” the Skydance letter said. FCC Chairman Brendan Carr, whom Trump picked to run the agency, has said the allegations that CBS engaged in “news distortion” with respect to the “60 Minutes” Harris interview would be part of the review of the Skydance-Paramount deal.
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