Skydance Media and Paramount (PARAA) Global (PARA) defended their planned $8.4B merger, urging the Federal Communications Commission to dismiss opposition, calling it “unwarranted” and “meritless,” Reuters reports. The Center for American Rights, a nonprofit law firm, petitioned the FCC to block the merger, specifically over concerns about the foreign influence on U.S. media stemming from Tencent’s (TCEHY) investment in Skydance.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PARA:
