(Reuters) – Skydance Media and Paramount Global on Thursday defended their planned $8.4 billion merger, urging the Federal Communications Commission to reject critics’ opposition, calling it “unwarranted” and “meritless” ” to mention.
The Center for American Rights, a nonprofit public interest law firm, filed a petition FCC (BME:) in December to block the merger, citing concerns about foreign influence over US media due to Tencent Holdings’ (OTC:) Chinese 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 flawed” and without merit.
“Neither party identifies any transaction-related damages that could lead to the denial of the applications or the imposition of conditions,” the companies said.
The filing dismissed LiveVideo.AI’s competition concerns and called the 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 immediately be 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 be completed in the first half of this year.
