financetom
Business
financetom
/
Business
/
Paramount's $8.4 bln Skydance merger faces FCC challenge by Center for American Rights
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Paramount's $8.4 bln Skydance merger faces FCC challenge by Center for American Rights
Dec 17, 2024 10:44 AM

Dec 17 (Reuters) - The Center for American Rights, a

non-profit public-interest law firm, has petitioned the Federal

Communications Commission (FCC) to challenge the planned $8.4

billion merger between Paramount Global ( PARAA ) and Skydance

Media, a filing showed on Tuesday.

China's Tencent Holdings' ( TCTZF ) investment in Skydance

sparks concerns about foreign influence on U.S. media, the firm

said.

The group also said Paramount's CBS News division "has a

troubling track record of ideological bias and news

manipulation" and the CBS Television division has shown "racial

discrimination in hiring and promotion".

Paramount declined to comment, while Skydance did not

immediately respond to Reuters request for comment.

In July, David Ellison's Skydance struck a deal with

Paramount 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 2025.

The deal would combine Paramount, home of such classic films

as "Chinatown," "Ferris Bueller's Day Off" and "Breakfast at

Tiffany's," with Skydance which was its financial partner on

several major films, including "Top Gun: Maverick," "Mission:

Impossible-Dead Reckoning" and "Star Trek Into Darkness."

Earlier this year, a Paramount investor sued to block the

deal saying it would cost its shareholders $1.65 billion.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Shareholders warn Nippon Steel faces higher decarbonisation costs with U.S. Steel takeover
Shareholders warn Nippon Steel faces higher decarbonisation costs with U.S. Steel takeover
Jun 19, 2024
TOKYO (Reuters) - Nippon Steel's ( NISTF ) proposed acquisition of U.S. Steel risks raising decarbonisation costs for Japan's top steelmaker, an activist shareholder group said, urging the company to address the takeover's impact on its climate goals. Nippon Steel ( NISTF ), the world's fourth biggest steelmaker, last year announced a $15 billion takeover offer for U.S. Steel, which...
Tencent's 'Dungeon & Fighter' game pulled from some Android app stores
Tencent's 'Dungeon & Fighter' game pulled from some Android app stores
Jun 19, 2024
BEIJING (Reuters) - Tencent ( TCTZF ) is removing from Thursday its hit mobile game Dungeon & Fighter (DnF Mobile) from selected Android app stores as its contracts have expired, the company said. Game developers in China have long had a contentious relationship with distributors over issues such as revenue sharing, as mobile games become increasingly popular in the broader...
Carlyle, KKR top bidders for Discover's $10 billion US student loan portfolio, FT reports
Carlyle, KKR top bidders for Discover's $10 billion US student loan portfolio, FT reports
Jun 19, 2024
(Reuters) -Private equity firms Carlyle Group Inc and KKR are the top bidders for U.S. credit card issuer Discover Financial's $10 billion U.S. student loan portfolio, the Financial Times reported on Thursday. The two are working together for the bid as private investment firms seek to expand their appetite for credit, the newspaper reported. The report did not specify in...
Carlyle, KKR top bidders for Discover's $10 bln US student loan portfolio, FT reports
Carlyle, KKR top bidders for Discover's $10 bln US student loan portfolio, FT reports
Jun 19, 2024
June 20 (Reuters) - Private equity firms Carlyle Group Inc ( CG ) and KKR are the top bidders for U.S. credit card issuer Discover Financial's $10 billion U.S. student loan portfolio, the Financial Times reported on Thursday. The two are working together for the bid as private investment firms seek to expand their appetite for credit, the newspaper reported....
Copyright 2023-2026 - www.financetom.com All Rights Reserved