Business - Paramount, US States Settle Antitrust Lawsuit over Warner Bros. Acquisition
California and 11 other states settled lawsuits after Paramount Skydance agreed to concessions for a $110 billion bid that would create a major media company.
- On Monday, Paramount Skydance reached a settlement with California and 11 other states, removing the final major legal obstacle for its $110 billion acquisition of Warner Bros Discovery.
- The Federal Communications Commission approved a petition Thursday allowing 49.5% of Paramount's equity to be held by foreign entities, exceeding the standard 25-percent cap on broadcast ownership.
- Sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi will indirectly own nearly 50-percent of the merged company, though the Block the Merger Coalition argued the deal harms "independent journalism and a strong democracy."
- AEW President Tony Khan remains "very, very optimistic" about the merger, citing his relationship with Ellison and potential increased broadcast and streaming opportunities for the wrestling promotion.
- A completed merger would create one of the world's largest entertainment companies controlling Paramount+, HBO Max, CNN, and CBS News, with AEW holding a multi-year media rights agreement with WBD through 2027 with an extension option.
37 Articles
37 Articles
The new conditions that Paramount will have to meet in order to purchase Warner Bros were revealed. With the intention of reaching an agreement with the coalition of 12 states in the United States that blocked the merger with Warner Bros. Discovery, David Ellison accepted various commitments. The agreements Paramount submitted to include several items such as production, investment, the amount of premieres and editorial protection. The new condi…
Hollywood Mega-Merger Slips Past Watchdogs
A Hollywood mega-merger cleared a key legal roadblock after state officials accepted court-enforced promises from Paramount Skydance. Story Snapshot Paramount Skydance reached a settlement with California and other states over its Warner Bros. Discovery deal. The agreement reportedly includes court-enforceable production and editorial safeguards. California’s attorney general warned the merger could still harm competition and raise prices. The …
PRESS REVIEW. Paramount has the open field to create a entertainment mastodon, after meagre concessions to the twelve states that were attacking in court. The threat of leaving Los Angeles was the reason for fears of a distortion of competition in the television and cinema market."After all this noise and all this fury, that's all?" Monday, Hollywood Reporter, a reference in the world of audiovisual overseas Atlantic, was surprised that Paramoun…
Mass Layoffs Loom as Paramount-Warner Bros. Merger Gets Cleared Following State Settlement
Paramount Skydance has settled an antitrust lawsuit brought by 12 US states, advancing its $110bn Warner Bros. Discovery acquisition while concerns over debt, savings and job losses persist.
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