CNN Will See Big Changes Under Paramount Leadership
The agreement requires 30 annual films or a divestiture option, $300 million more in U.S. film spending, and safeguards for CNN and CBS News.
- On Monday, California Attorney General Rob Bonta cleared the $111 billion Paramount-Warner Bros. merger after securing production and newsroom concessions from the studio.
- A 12-member coalition of state attorneys general, led by Bonta, challenged the deal over concerns that the consolidation of CNN and CBS News under Paramount Skydance Chief Executive David Ellison threatened editorial independence.
- Paramount agreed to spend $300 million annually on U.S. film production, increase its WGA health fund commitment to $17.5 million, and maintain its Melrose Avenue and Burbank studio lots.
- The settlement establishes a five-year "news editorial independence board" of five veteran journalists to monitor alleged editorial bias at CNN and CBS News, addressing coalition concerns about journalistic independence.
- Executives expect the acquisition to close within weeks to avoid extra fees; however, the promised $6 billion in cost savings has staff bracing for significant layoffs across overlapping operations.
11 Articles
11 Articles
Anxiety Takes Over at CNN After Paramount Merger, Staffers Await a 'Bloodbath'
With the last major obstacle removed for Paramount’s takeover of Warner Bros. Discovery, fear is running wild at CNN. On Monday, Paramount settled a lawsuit filed by California Attorney General […]
Newsom denies forcing Bonta into Paramount settlement
Gov. Gavin Newsom (D-CA) warded off speculation about whether he pressured California Attorney General Rob Bonta to settle with Paramount Skydance over the company’s merger with Warner Bros. Discovery. “I didn’t pressure anybody,” Newsom told reporters on Wednesday. After Bonta, who has been openly against the merger for months, made the surprising move to meet […]
Mark Ruffalo Lashes Out at Gavin Newsom After Paramount Warner Bros. Merger Settlement
Actor and activist Mark Ruffalo was among the most outspoken opponents of Paramount’s proposed $110 billion merger with Warner Bros. Discovery. A major obstacle was an antitrust lawsuit filed by California Attorney General Rob Bonta and the attorneys general of 11 other states. With that challenge now settled, the Marvel star is directing his anger toward California Governor Gavin Newsom.
Mark Ruffalo's Antisemitic Attack on Paramount Helped Convince Calf. AG Bonta to Drop His Merger Lawsuit
According to a report, radical Marvel "Spider-Man: Brand New Day" star Mark Ruffalo's antisemitic tirades against Paramount's merger with Warner Bros. Discovery in August helped torpedo California AG Rob Bonta's lawsuit aimed at scotching the merger.
Hollywood Accuses California Of Folding To Trump On Paramount Merger
All is not well in liberal Hollywood. After a blue state coalition led by California essentially folded by allowing the Paramount Skydance-Warner Bros. Discovery merger to proceed: several celebrities, led by actors Mark Ruffalo and Jane Fonda, voiced their displeasure at state officials for caving.A group calling itself Block the Merger pretended they speak for “average Americans” when they lamented, “We are disappointed and angry that the inte…
‘Independent CNN Oversight Board’ To Be Hand Picked By Paramount
Earlier this week we noted how California Democrats fecklessly folded to Paramount's demands and settled the 12-state antitrust lawsuit against Paramount's $111 billion merger with Warner Bros. We also noted how the conditions affixed to the deal are largely pathetic, and generally consist of a lot of performative fluff Paramount itself recommended and California AG…
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