Paramount could settle with states over Warner Bros. as soon as this weekend, sources say
Settlement talks could include CNN oversight and a release commitment as Paramount tries to clear the last hurdle to its $110 billion Warner Bros. acquisition.
- Paramount and California, along with 11 states, could settle a lawsuit as soon as this weekend to resolve the $110 billion Warner Bros. acquisition block, sources told Reuters on Friday.
- A $7 million daily "ticking fee" payable to Warner Bros. shareholders starting after September 30 creates mounting financial pressure driving Paramount's urgent need to finalize the merger quickly.
- Settlement terms under discussion reportedly include independent content monitoring of CNN and commitments regarding theatrical releases, sources said, addressing state competition concerns.
- Investors responded positively to settlement prospects, with Paramount shares rising nearly 7% and WBD shares gaining 8.4% in after-market trading following the news.
- Even with a state settlement, The Writers Guild continues a separate lawsuit to stop the transaction, while California Attorney General Rob Bonta maintains that structural divestitures better protect competition.
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The Economic Times
Times of IndiaParamount, states could settle Warner Bros. $110 billion deal challenge this weekend, sources say
Paramount and several states are nearing a settlement regarding the Warner Bros. acquisition. Discussions include independent content monitoring for CNN and the number of theatrical releases. This potential agreement could resolve a significant hurdle for Paramount's expansion plans. Paramount faces a daily fee until the deal officially closes. The acquisition aims to create a major competitor in the streaming and film industry.
Paramount, States Discuss CNN Monitoring, Film Release Commitment
Paramount could settle with states over Warner Bros. as soon as this weekend, sources say
Paramount and states seeking to block its $110 billion acquisition of Warner Bros. could settle as soon as this weekend, with independent content monitoring of CNN among the terms under discussion, sources familiar with the matter told Reuters on Friday.
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