Project Rise Partners Submits Friend of the Court Brief in Support of New York City's Retired Firefighters, Police Officers, and Teachers Pension Fund's Efforts to Stop Skydance's Merger with Paramount Global

LOS ANGELES, March 6, 2025 /PRNewswire/ -- Today, Project Rise Partners filed a friend of the court, or amicus, brief in Delaware Court of Chancery in support of the efforts by New York City's Pension and Retirement Systems to stop Skydance's merger with Paramount Global. PRP seeks to have Paramount formally consider PRP's offer to acquire Paramount. 

Moses Gross, Co-Chairman of PRP and Managing Trustee of the Malka Investment Trust stated, "Our offer, an all-cash offer, is for $8.8 billion along with $5 billion for restructuring of debt, if needed.  And it is approximately $5 billion more than the value of Skydance's offer so it would be far better for Paramount's shareholders."

"We are in complete support of Paramount's shareholders, including the courageous New York City police officers, firefighters, teachers, as well as all the other hard-working individuals who have been the backbone of this iconic staple of American media for the past century," says Daphna Edwards Ziman, Co-Chairman of PRP. "Paramount doesn't deserve to be torn apart, and we hope to build on its historic legacy.  The entertainment industry must continue to be a shining ambassador for America, our values and our culture."   

Moses Gross added, "We aim to build Paramount into a global leader in TV and movies and to create a world-class tourist destination in Los Angeles at Paramount's historic studios. We urge the Court to require Paramount to give full consideration to our offer." 

About Project Rise Partners
Project Rise Partners is Rise Beyond LLC, a special purpose entity formed for the purpose of acquiring Paramount Global, and its members. PRP presented an offer to acquire Paramount Global in August 2024 and increased its offer in January 2025. The value of PRP's offer is $8.8 billion, plus $5 billion for restructuring of debt, if needed to ensure Paramount's financial stability. PRP also has a comprehensive growth strategy to be implemented by experienced leaders across content, real estate, technology, and other areas central to Paramount's business.

Cautionary Note Regarding Forward Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, and on information available as of the date hereof to Rise Beyond LLC, a special purpose entity formed for the purpose of acquiring Paramount Global ("Paramount"), which together with its members is referred to as "Project Rise Partners" or "PRP." There is no guaranty that PRP will acquire Paramount, and if it does, whether PRP's plan will play out as expected. Whether before or after any acquisition by PRP, Paramount's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its most recent Annual Report on Form 10-K filed with the SEC, subsequent Quarterly Reports on Form 10-Q, and other filings available at SEC.gov. Results could differ material from expectation for unforeseen reasons or for reasons that may become foreseeable at a later time but are not foreseeable now. Any acquisition by PRP of Paramount would be subject to negotiation, regulatory constraints, tax considerations, and other factors, some of which may be outside of PRP's and Paramount's control, and any of which could cause actual results to differ materially from those described in this press release.

Forward-looking statements include statements regarding PRP's or Paramount's expectations, beliefs, plans, intentions or strategies regarding the future, and can be identified by forward-looking words, including, but not limited to, "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. Forward-looking statements include, without limitation, statements regarding future financial or operating results, PRP's or Paramount's plans, objectives, expectations and intentions, and other statements that are not historical facts. PRP expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein in this presentation to reflect any change in PRP's or Paramount's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

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SOURCE Project Rise Partners