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.
13 Articles
13 Articles
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.
AEW's Internal View On The Massive Merger Between Paramount Skydance & Warner Bros. Discovery
AEW appears to be optimistic about the company’s future following the massive merger between Paramount Skydance and Warner Bros. Discovery. Paramount Skydance recently reached a settlement with California and 11 other states that had attempted to block its acquisition of WBD. The settlement removed the final major legal obstacle standing in the way of the […]
The US media group Paramount can take over the competitor Warner Bros. Discovery for 110 billion dollars.
Democrat AGs settle with Paramount, clearing way for merger
The long-anticipated merger between Paramount and Warner Bros. is finally happening after Paramount reached a settlement with the dozen states whose Democrat attorneys general had sued to stop the deal. The settlement, announced on Monday, also included the Writers Guild of America, the union representing screenwriters. With this case put to rest, the merger will […]
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