(Reuters) – Skydance Media and Paramount Global defended their planned $8.4 billion merger on Thursday, urging the Federal Communications Commission to dismiss opposition from critics, calling them “unwarranted” and “without merit.”
The Center for American Law, a nonprofit public interest law firm, filed the petition FCC (BME:) in December to block the merger, citing concerns about foreign influence on U.S. media stemming from China’s Tencent Holdings (OTC:) investment in Skydance.
In a filing with the FCC, the companies described the petitions by the group and other critics, including LiveVideo.AI and Fuse Media, as “procedurally flawed” and without merit.
“Neither party identifies any harm related to the transaction that would merit denying the claim or imposing conditions,” the companies said.
The filing dismissed LiveVideo.AI’s competition concerns, 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’ request for comment. LiveVideo.AI could not immediately be reached.
David Ellison’s Skydance struck a deal with Paramount in July 2024 to merge the two media houses in a complex two-step process, ending months of debate and speculation over the future of one of Hollywood’s oldest studios.
The completion of the merger is expected in the first half of this year.
