The $8.4 billion Paramount Global and Skydance Media merger faces FCC challenge

From Investing.com: 2024-12-17 13:35:40

The Center for American Rights challenges the $8.4 billion merger between Paramount Global and Skydance Media, citing concerns about foreign influence from China’s Tencent Holdings. Paramount’s CBS News division is accused of ideological bias and racial discrimination. The merger, expected to close in the first half of 2025, combines two Hollywood studios.

In July, Paramount and Skydance struck a deal to merge, ending speculation about the future of the iconic studio. The merger, set to close in the first half of 2025, combines Paramount’s classic films like “Chinatown” and “Breakfast at Tiffany’s” with Skydance’s recent hits including “Top Gun: Maverick” and “Mission: Impossible-Dead Reckoning.” An investor previously sued to block the deal, claiming it would cost shareholders $1.65 billion.



Read more at Investing.com: Paramount’s $8.4 billion Skydance merger faces FCC challenge by Center for American Rights By Reuters