#United States #Los Angeles #Paramount Global #Project Rise #Skydance Media

Project Rise Partners Responds to Skydance Media

In a significant development in the media and entertainment sector, Project Rise Partners (PRP) has publicly countered allegations made by Skydance Media regarding its bid to acquire Paramount Global. Formed specifically to facilitate this acquisition, PRP aims to restore Paramount's stature as a leading force in the entertainment industry.

On March 14, 2025, PRP issued a statement responding to recent criticisms from Skydance, asserting that their offer is not only legitimate but backed by considerable financial resources. The company offered $13.5 billion to acquire Paramount, a sum they claim is solidly supported by actual investors and market knowledge. This assertion counters Skydance’s accusations, which PRP believes are misleading and intended to deter potential investors.

The backdrop to this confrontation stems from a letter PRP received from Skydance on March 10, which led to PRP’s legal representatives preparing a detailed response. However, before PRP could communicate its side, Skydance chose to share its claims with the media and file documents in Delaware's Chancery Court. PRP accused Skydance of preempting their response and engaging in a campaign to misrepresent facts. Daphna Edwards Ziman, Co-Chair of PRP, emphasized that Skydance’s tactics were an attempt to shift focus away from the critical examination of Skydance's own dealings with Paramount.

During the Delaware court hearing, PRP called attention to the need for transparency and clarity. Instead of granting PRP the chance to clarify its position, Skydance labeled PRP’s advisors as fictitious and suggested fraudulent intentions. Such provocations, according to PRP's leadership, illustrate Skydance's desire to distract from ongoing scrutiny regarding its merger plans with Paramount, which have raised concerns among institutional investors, particularly those from New York City’s pension funds.

Moses Gross, another Co-Chair of PRP, stressed that stakeholders should focus on whether Skydance's merger is beneficial for Paramount’s shareholders and its audience. Backing his claim, he declared that PRP’s proposal is evidently superior to Skydance’s, promising a vision to revitalize Paramount and enhance its offerings across prominent networks such as CBS and Nickelodeon. PRP firmly believes their business plan could reinvigorate Paramount, emphasizing their intent to generate innovative content and foster engagement among younger demographics, thereby enhancing America's reputation globally.

As discussions continue, Daphna Edwards Ziman reiterated PRP’s commitment to transparency, insisting that shareholders deserve a genuine evaluation of the prospective benefits and risks related to each bid. She concluded her remarks with a call for open conversation about how best to secure Paramount's future.

PRP's endeavor isn't just about acquiring a company but also reviving an industry icon to its once-prestigious levels of innovation and connectivity in global entertainment.

About Project Rise Partners
Project Rise Partners is a specially formulated entity established for the sole purpose of acquiring Paramount Global. Initially presenting an acquisition offer in August 2024 and subsequently enhancing it in January 2025, PRP aims to stabilize Paramount's finances and execute a strategic growth plan managed by seasoned professionals in content, technology, and real estate. The PIRP offer encompasses $8.8 billion alongside an additional $5 billion earmarked for potential debt restructuring, ensuring optimum operational stability for Paramount.

It's important for stakeholders and the public alike to monitor these developments closely, given their potential impact on the landscape of the media industry and the future of Paramount Global.