Project Rise Partners issued an open letter to Paramount (PARA) shareholders, in which it stated in part: “We are Project Rise Partners, a special-purpose vehicle comprised of Malka Investment Trust and Rise Beyond LLC. We are a group of investors with backgrounds in entertainment, media, finance, technology, real estate, and hospitality who are committed to Paramount Global’s future success and have formally offered Paramount $13.5 billion cash, which includes up to $5 billion debt restructuring, which we believe is far better for Paramount and its shareholders than their current agreement with Skydance Media… Our view is straightforward: shareholders deserve a deal that reflects Paramount’s true value, as well as fairness and transparency in the process… Most importantly, we want to reiterate that we are dedicated to treating all shareholders fairly. Our proposal ensures that every investor receives favorable terms in a straightforward way. We believe that this approach honors the trust you have placed in Paramount and provides a path forward that delivers significant value to every shareholder. We look forward to engaging with you further and sharing the detailed financial terms of our offer.”
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