#United States #Washington #Paramount Global #Skydance Media #Project Rise Partners

Project Rise Partners Challenges Skydance's Merger with Paramount Global

In a bold move, Project Rise Partners (PRP) has filed a letter with the Federal Communications Commission (FCC) addressing several critical concerns regarding the proposed merger between Skydance Media and Paramount Global. This merger, amid growing scrutiny, has prompted PRP to raise questions that hinge on public interests, national security, and the potential market dynamics of the media landscape in the United States.

The letter highlights the potential influence of a Chinese entity reportedly involved in the acquisition. PRP emphasizes the need for an in-depth investigation by the FCC into how this influence might affect key U.S. television networks and broadcasting licenses. The presence of foreign investors in American media raises significant concerns about the safeguarding of national interests, particularly in an era characterized by increasing geopolitical tensions.

Moses Gross, Co-Chairman of Project Rise Partners, stated:

"In filing this letter, PRP joined its voice with those of a chorus of entities, from all walks of life and all ideologies in the media ecosystem that have expressed serious and manifold concerns about the Skydance proposal."

The merger's implications extend beyond foreign influence. One of PRP's focal points is Skydance’s approach to bundling practices, which many believe stifles diversity in content by limiting the exposure of new conservative and progressive voices. In a media landscape where content options are supposedly abundant, the fear is that such practices could monopolize viewership and suppress unique narratives that are crucial for a comprehensive democratic discourse.

PRP also expressed alarm over the rising retransmission prices, which can burden consumers in an inflationary environment. This concern touches on the broader implications for consumer rights and affordability, particularly as many households are already feeling the pinch from rising costs in essentials. Daphna Edwards Ziman, Co-Chairman of PRP, further echoed these sentiments, asserting:

"The proposed transaction poses risks of public interest harms to national security in an increasingly insecure world, to new and independent voices in a world where they are increasingly crowded out, and to consumers' wallets."

Additionally, the letter raises eyebrows regarding Skydance’s potential intention to replace human talent with automated systems, a move that could have far-reaching consequences not only for employment within the industry but also for the quality of creative output. The evolving landscape of technology and its utilization in content creation calls for careful regulation and consideration of the human element that is often at the core of compelling storytelling.

Project Rise Partners, a special purpose entity formed with the aim of acquiring Paramount Global, previously made an acquisition offer valued at $8.8 billion, including $5 billion for restructuring debt if deemed necessary. The organization made its initial approach to acquire Paramount Global in August 2024 and subsequently increased that offer in January 2025. This proactive stance reflects PRP's commitment to a comprehensive growth strategy for Paramount, poised to be executed by seasoned leaders across various critical sectors.

As regulatory bodies and stakeholders evaluate the proposed merger, the insights raised by Project Rise Partners serve as a vital reminder of the complex interplay between media ownership, public interest, and national security. The future landscape of American media could be markedly different, depending on how these concerns are addressed within governmental and regulatory frameworks.

As the FCC prepares to consider PRP's letter, the community awaits clarity on its implications and the ongoing discourse regarding media consolidation and its impact on society at large. Whether these significant questions will spur the necessary scrutiny remains to be seen, but they undoubtedly contribute to a crucial conversation about the shape of media in a rapidly evolving world.