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Paramount settles with California, other states over Warner Bros merger: Report
- 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 to Settle Lawsuits, Paving Way for Warner Bros. Merger
Paramount Skydance Corp. has reached a settlement with California and other states suing to block its proposed acquisition of Warner Bros. Discovery Inc., according to a person familiar with the matter.
·New York, United States
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Paramount settles with California, other states over Warner Bros merger, Bloomberg News reports
Paramount Skydance has reached a settlement with California and other states suing to block its $110 billion merger with Warner Bros Discovery , Bloomberg News reported on Monday, citing a person familiar with the matter.
·London, United Kingdom
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Coverage Details
Total News Sources7
Leaning Left0Leaning Right2Center5Last UpdatedBias Distribution71% Center
Bias Distribution
- 71% of the sources are Center
71% Center
C 71%
R 29%
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