Paramount Reaches Settlement With States Blocking Warner Bros. Merger
Paramount Global has reached a settlement with California, New York, Washington, and ten other states that had sued to block its $110 billion acquisition of Warner Bros. Discovery (WBD). The proposed consent decree includes commitments such as maintaining minimum annual film releases, rules for cable channel negotiations, property management plans, and Pluto TV availability. The settlement removes a major legal obstacle ahead of the merger's ticking fee deadline, which would have cost Paramount $7 million per day if delayed. California Attorney General Bonta and other state officials engaged in good faith to find an outcome that supports consumers, workers, and the creative community. The deal has already received approval from competition authorities across nearly 70 jurisdictions. Paramount CEO David Ellison expressed confidence that this agreement will help build a stronger Hollywood with more stories told and greater consumer choice. With all regulatory concerns now addressed, Paramount is poised to finalize the merger and move forward with its vision for expanded entertainment opportunities globally.
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Topics: antitrust media merger paramount warner bros discovery