Skydance Says 11th Hour Paramount Bidder Misrepresented Backing

The investor consortium that made an 11th hour take-private bid for Paramount Global misrepresented itself in court filings by touting financial backers including Blackstone Inc., according to Skydance Media LLC, which is slated to acquire the entertainment conglomerate.

Skydance said in a filing Wednesday that Project Rise Partners co-chair Moses Gross made the misrepresentations in sworn affidavits submitted in a case brought by New York City’s public pension funds. In addition to falsely portraying a Blackstone affiliate as a member of the syndicated investor group, Project Rise said Goldman Sachs Group Inc. is advising it, which the financial ...