Skydance Challenges Rival Bid for Paramount Over Alleged Fraud and Lack of Credibility

The $8 billion Skydance-Paramount merger faces legal and regulatory hurdles as Project Rise Partners pushes a competing $13.5 billion offer.

Skydance Media accuses Project Rise Partners of fraudulent misrepresentation regarding its $13.5 billion bid for Paramount, citing lack of financing and experience.
Project Rise Partners claims its offer is superior, supported by New York City pension funds, which filed a lawsuit alleging Paramount failed to maximize shareholder value.
The Delaware Court of Chancery has expedited the pension fund lawsuit but has not blocked the Skydance-Paramount merger from proceeding for now.
Skydance argues Project Rise's bid is untimely and unserious, pointing to the group's failure to submit a proposal during Paramount's official go-shop period.
Regulatory concerns have surfaced, with Project Rise raising issues about Chinese influence through Tencent's minority stake in Skydance and potential AI-driven job losses, both of which Skydance strongly denies.