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Judge Approves Paramount's Settlement with States over Warner Buyout, Allowing Merger to Soon Close
The settlement requires 30 films a year, $1.5 billion in U.S. production and editorial oversight for CNN and CBS News.
- On Wednesday, District Judge Araceli Martinez-Olguin approved a legal settlement between Paramount and 12 state attorneys general, removing the final hurdle for its $110 billion merger with Warner Bros. Discovery.
- California Attorney General Rob Bonta had led a lawsuit to block the merger, citing concerns that the deal would reduce competition and imperil the journalistic independence of CNN and CBS News.
- Under the terms, Paramount committed to invest $1.5 billion in U.S. film and TV production over five years, release at least 30 films annually, and establish editorial oversight boards for CNN and CBS News.
- Leadership changes began Tuesday as Cindy Holland, chair of Paramount's Direct-to-Consumer business, departed, leaving HBO CEO Casey Bloys to lead combined streaming operations amid a $7 million daily ticking fee if unclosed past October 1.
- Paramount is now moving to finalize the transaction, executing a $44 billion bond offering and preparing to transfer its Class B stock from Nasdaq to the New York Stock Exchange on October 5.
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187 Articles
A court in the American city of Oakland has paved the way for the acquisition of media giant Warner Bros. Discovery by industry peer...
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Judge OKs plan for Paramount-Warner Bros. merger
(The Center Square) - Paramount Skydance won a federal judge’s approval Wednesday to proceed with a $111-billion acquisition of Warner Bros. Discovery in a historic Hollywood merger.
·Cherokee County, United States
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Coverage Details
Total News Sources187
Leaning Left27Leaning Right20Center74Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 22%
C 61%
R 17%
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