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.
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