A Delaware judge has declined to immediately block Skydance’s proposed acquisition of Paramount Global, but set an expedited schedule for considering a shareholder lawsuit to force the consideration of a rival bid. The group of pension funds involved in the lawsuit had filed a claim after a special committee at Paramount declined to engage in talks with Project Rise Partners over a higher offer.
The judge granted the motion to expedite the proceedings, citing that the plaintiff pension funds had demonstrated irreparable harm if they did not receive FCC approval on time. The transaction is scheduled to close on March 20, but parties can extend the end date twice by 90 days if necessary.
A ruling on the lawsuit’s merits has not been made yet, with the judge only finding it a “non-frivolous cause of action.” The merger is seen as a key step in Paramount’s shift towards streaming, and supporters claim that the eventual acquisition will have a positive impact.
Source: https://deadline.com/2025/03/paramount-skydance-merger-sharehold-lawsuit-1236313214