Jan 2 (Reuters) -
Skydance Media and Paramount Global ( PARAA ) on Thursday
defended their planned $8.4 billion merger, urging the Federal
Communications Commission to dismiss opposition from critics,
calling them "unwarranted" and "meritless".
The Center for American Rights, a nonprofit public-interest
law firm, petitioned the FCC in December to block the merger,
citing concerns about foreign influence on U.S. media stemming
from China's Tencent Holdings' ( TCTZF ) 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 defective" and lacking merit.
"Neither party identifies any transaction-related harm that
could merit denying the applications or imposing conditions,"
the companies said.
The filing dismissed concerns from LiveVideo.AI over
competition, 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' requests for comment.
LiveVideo.AI could not be immediately 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 close in the first half of this
year.
(Reporting by Surbhi Misra in Bengaluru; Editing by Varun H K)