A Delaware judge on Thursday declined to issue an order to temporarily halt the merger between Paramount Global and Skydance Media. But in the ruling, Chancellor Kathaleen McCormick agreed to set a “break-neck pace” for an investor suit that seeks to block the deal in favor of a competing bid from Project Rise Partners.

A U.S. judge in Delaware is willing to consider allegations brought against Paramount Global (NASDAQ:PARA) (NASDAQ:PARAA) in a lawsuit that says the media conglomerate's $8B sale to David Ellison's Skydance Media should be blocked from closing because it short-changes public shareholders,

McCormick granted a motion to expedite the proceedings, even though it’s unclear when the Skydance-Paramount will get the regulatory greenlight. It is currently before the FCC, on day 111 of a 180-day “shot clock” for agency review, although that timeline is not set in stone.

A Delaware judge allows an investor lawsuit over Paramount's $8B sale to Skydance, raising new hurdles for the deal

The biggest question for Judge McCormick, according to University of Pennsylvania Business Law School Professor Jill Fisch, is whether the largely unknown Prospect Rise Partners is a legitimate

Paramount Global’s $8 billion sale to Skydance Media LLC will move forward for now even as a judge weighs forcing the Paramount board to consider a last-minute $13.5 billion offer.

The Shari Redstone-controlled media company released fourth-quarter earnings Wednesday. The company cut streaming losses.

A Delaware judge is willing to consider allegations in a class action lawsuit that Paramount Global's $8 billion sale to Skydance Media should be blocked from closing because it short-changes public shareholders,