The investment group submitted an offer for Paramount after the end of the 45-day go-shop period last summer.
Paramount management last month said the merger is still on track to close before the end of June.
Two hurdles have emerged since Donald Trumps inauguration in January, however.
Paramount and SkydanceGetty Images
Even if such a comparison were permitted, it would not be a close call, the letter argued.
The full roster of investors who are part of the Project Rise Partners bid has not been disclosed.
Skydances letter to its opposing counsel takes issue with assertions made by PRP in Delaware court.
It is hardly surprising that even Project Rises allies are skeptical.
Project Rises principals lack the experience and credibility to execute a transaction of this size.
Cinemoi, the letter notes, filed for Chapter 11 bankruptcy protection last year.
