• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Skydance, Paramount dismiss objections to planned $8.4 billion merger

by January 3, 2025
written by January 3, 2025

(Reuters) – Skydance Media and Paramount Global on Thursday defended their planned $8.4 billion merger, urging the Federal Communications Commission to dismiss opposition from critics, calling them “unwarranted” and “meritless”.

The Center for American Rights, a nonprofit public-interest law firm, petitioned the FCC (BME:FCC) in December to block the merger, citing concerns about foreign influence on U.S. media stemming from China’s Tencent Holdings (OTC:TCEHY)’ investment in Skydance.

In a filing with the FCC, the companies described petitions from the group and other critics, including LiveVideo.AI and Fuse Media, as “procedurally defective” and lacking merit.

“Neither party identifies any transaction-related harm that could merit denying the applications or imposing conditions,” the companies said.

The filing dismissed concerns from LiveVideo.AI over competition, calling its claims of a “rigged sales process” irrelevant to the FCC’s regulatory role.

The Center for American Rights and Fuse Media did not immediately respond to Reuters’ requests for comment. LiveVideo.AI could not be immediately contacted.

David Ellison’s Skydance struck a deal with Paramount in July 2024 to combine the two media houses in a complex two-step process, ending months of discussion and speculation about the future of one of Hollywood’s oldest studios.

The merger is expected to close in the first half of this year.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Asian stocks rise, dollar at two-year high as US rates, Trump in focus
next post
Biden to announce decision on Nippon Steel bid for US Steel as early as Friday, CBS News reports

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (504)
    • Stock (6,426)

    Latest News

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Popular News

    • South Korea pledges 45% increase in World Bank fund contribution
    • Nintendo shares slide after Switch 2 console reveal

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy