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Judge Approves Paramount’s Settlement with States over Warner Buyout, Allowing Merger to Soon Close – WTOP News
The settlement requires at least 30 films a year and an editorial board 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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Judge approves Paramount's settlement with states over Warner buy
CHICAGO (AP) — A federal judge has now granted Paramount’s settlement agreement with 12 states that sued over the company’s takeover of Warner Bros. Discovery, allowing the companies to soon close their $81 billion mega merger. In
·Baltimore, United States
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Judge approves Paramount’s settlement with states over Warner buyout, allowing merger to soon close – WTOP News
CHICAGO (AP) — A federal judge has now granted Paramount’s settlement agreement with 12 states that sued over the company’s takeover of Warner Bros. Discovery, allowing the companies to soon close their $81 billion mega merger. In a Wednesday order, U.S. District Judge Araceli Martínez-Olguín ruled that the proposed consent decree was a “fair, reasonable,...
·Chevy Chase, United States
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Coverage Details
Total News Sources40
Leaning Left7Leaning Right4Center6Last UpdatedBias Distribution41% Left
Bias Distribution
- 41% of the sources lean Left
41% Left
L 41%
C 35%
R 24%
Factuality
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