Paramount Moves Closer to Resolving Antitrust Concerns in Warner Bros. Discovery Acquisition
Paramount Global, through its subsidiary Paramount Skydance (PSKY), is reportedly nearing a resolution with state attorneys general over antitrust concerns related to its $110 billion acquisition of Warner Bros. Discovery. The deal has faced regulatory scrutiny due to the significant consolidation in media and streaming services it would create, including combining HBO Max and Paramount+ as well as major TV networks like CBS and CNN. The proposed concessions include a requirement for the merged company to produce at least 30 films annually or face penalties of up to $30 million per film. Additionally, independent editorial boards may be mandated for CBS News and CNN to preserve journalistic independence. The Writers Guild of America also opposed the merger, citing potential job losses in Hollywood. Financially, Paramount has already paid a $2.8 billion termination fee to Netflix after outbidding it for Warner Bros., and faces an additional ticking fee that could add up to $650 million per quarter if the deal does not close by September 30.
