Paramount settles with California, other states over Warner Bros merger: Report
The settlement clears the $110 billion merger to proceed after states argued it would concentrate control of film and pay TV.
- On Monday, the $110 billion Paramount Skydance merger with Warner Bros. Discovery will move forward as the company plans to settle with state attorneys general who sought to block the antitrust deal.
- California Attorney General Rob Bonta led a coalition of 11 other states in filing suit mid-July, citing antitrust concerns in film and pay TV as grounds to block the merger.
- Paramount faced a ticking fee that would have kicked in after Sept. 30, costing an estimated $650 million per quarter and adding 25 cents per share to WBD shareholders until deal closure.
- Avoiding a March trial that would have delayed the deal until mid-2027, the settlement resolves the legal challenge; spokespeople for Paramount and Bonta did not immediately respond to requests for comment.
- Combining major assets, the deal brings together Paramount Pictures and Warner Bros. Discovery, while including the CBS broadcast network and HBO Max in the newly consolidated portfolio.
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Paramount reaches deal with states to settle their case challenging Warner buyout, AP source say
‘Today, billionaires have yet again bribed, censored, and bullied their way to the top,’ Alvaro Bedoya, senior adviser at the American Economic Liberties Project and former FTC commissioner, said in a statement
Paramount Skydance has reached an agreement with several US states to terminate the proceedings challenging the acquisition of Warner Bros. Discovery.
Paramount reaches deal with states to settle their case challenging Warner buyout, AP source says - Regional Media News
CHICAGO (AP) - Skydance-owned Paramount reached a settlement Monday with a group of state attorneys general that had sued to challenge the company's buyout of Warner Bros. Discovery, effectively paving the way for the mega merger to move forward, a person familiar with the matter [...]
Die Presse
Paramount agreed with several U.S. states that wanted to block the more than 110 billion dollars (95.99 billion euros) deal with a lawsuit.
The planned mega fusion in Hollywood is taking a decisive step forward. Paramount has agreed with several US states that wanted to prevent the takeover of Warner Bros. Discovery, which is more than 110 billion dollars (about 96 billion euros), by means of a lawsuit. This has removed a central hurdle for the billion-dollar deal.
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