Paramount has reached a settlement with California and 11 other states that clears a major legal hurdle to its $110 billion takeover of Warner Bros. Discovery, with the deal imposing commitments on film production, jobs and editorial independence at CNN and CBS News.
Paramount on Monday agreed to settle an antitrust lawsuit filed by 12 states, the last big obstacle blocking the company's $81 billion acquisition of Warner Bros. Discovery.
While Warner Bros. Discovery shares soared 11%, as is often the case of a company about to be acquired, while Paramount shares stumbled on news the companies’ merger will take another two weeks to complete. The stocks’ divergent movement came after news Monday morning of a settlement between Paramount and 12 state attorneys general. A […]
Deadline•Dade Hayes21 Sept
Paramount CEO David Ellison said Monday’s settlement of two lawsuits aimed at blocking the company’s pending merger with Warner Bros. Discovery represent “an exciting moment for our company and our industry.” However, he added in a memo to employees, there is “still work ahead to get this deal across the finish line.” (Read the full […]
Deadline•Dade Hayes21 Sept
After almost a year in the trenches pulling together his historic combination of Paramount Skydance and Warner Bros. Discovery, David Ellison has finally emerged victorious. On Monday, the Silicon Valley heir confirmed he’d reached a settlement with a group of state attorneys general, who sued to block the merger over antitrust concerns. The proposed merger […]
Variety•Varietymattdonnelly21 SeptParamount Skydance's CEO confirmed to employees that the company had settled the lawsuits that were holding up its deal to buy Warner Bros. Discovery.
The Writers Guild of America East and Writers Guild of America West have settled their lawsuit to block the proposed merger of Paramount Skydance and Warner Bros. Discovery per a statement released by the organization Monday. The settlement comes following the news that Paramount has reached a deal with 12 state attorneys general, removing a […]
Variety•Payton Turkeltaub21 Sept
David Ellison’s endgame is in sight. Following a dramatic weekend of negotiations with a collection of state attorneys general and the WGA, the mogul’s path to combining Paramount Skydance and Warner Bros. Discovery is now clear. In a Monday address to staff, Ellison said his team’s goal is to “to close in approximately two weeks. […]
Variety•Varietymattdonnelly21 Sept
It wasn’t quick, it wasn’t pretty, but Paramount’s David Ellison got to where he wanted, an acquisition of Warner Bros. Discovery by October 1 when a costly ticking fee was to come into effect. While California Attorney General Bonta was still making the announcement of the anti-trust lawsuit being settled, laying out its terms, Ellison, […]
Deadline•Nellie Andreeva21 Sept
California Attorney General Rob Bonta has revealed terms of a settlement with Paramount allowing it to acquired Warner Bros. Discovery, but stressed that the agreement is “not a blessing” of the mega-merger. Speaking at a news conference Monday, Bonta detailed a list of items to which Paramount is committed. The list ranges from stepped-up film […]
Deadline•Dade Hayes21 Sept
Paramount has reached a settlement with California and the 11 other states that sued to block its planned $110 billion acquisition of Warner Bros. Discovery. The settlement removes a major roadblock standing in the way of the massive media merger. Paramount Chairman & CEO David Ellison: We are grateful to Attorney General Bonta and his […]
The Verge•Emma Roth21 Sept
The details of Paramount’s deal with 12 states settling their antitrust case — paving the way for its takeover of Warner Bros. Discovery, the biggest merger in Hollywood history — have been revealed. Among the top-line items: Paramount is agreeing to keep its operations in California and has committed to not sell the Paramount Studios […]
Variety•Todd Spangler21 SeptDavid Ellison's Paramount Skydance has settled the lawsuit that was stopping its $110 billion merger with Warner Bros. Discovery.
California Attorney General Rob Bonta is expected to reveal details of the settlement agreement between Paramount and 12 state attorneys general over the pending $111 billion merger with Warner Bros. Discovery. You can watch the livestream above. The road to a resolution has been fraught. Bonta abruptly canceled a negotiation session with Paramount in late […]
Deadline•Denise Petski21 Sept
States including California and New York sued over concerns of ‘extinguishing competition’ with $81bn merger Paramount has reached a settlement with California and several other states that sued over a proposed $81bn merger with Warner Bros Discovery ( WBD ), according to reports on Monday, clearing the way to consolidate some of Hollywood’s most recognizable TV networks and studios under one owner. Though the merger was approved by the justice department in June, a coalition of 12 states, led by California, had sued over concerns that combining two of the five last legacy studios in Hollywood would “extinguish competition” and lead to fewer movies in theaters and on streaming platforms. Continue reading...
The Guardian•Gaya Gupta and Uwa Ede-Osifo21 Sept
Paramount's owners have made concessions to 12 Democratic state attorneys general to settle a lawsuit that endangered the media company's bid for its larger Hollywood rival, Warner Bros. Discovery.
NPR•David Folkenflik21 Sept
Paramount was threatening to bolt California just days ago ... but now it sounds like it reached a settlement that could save its massive Warner Bros. Discovery takeover and keep the studio rooted in place. Bloomberg reports Paramount Skydance…
TMZ•TMZ Staff21 Sept
Paramount Skydance has reached a settlement with California and other states suing to block its $110 billion merger with Warner Bros Discovery, Bloomberg News reported on Monday, citing a person familiar with the matter.
Paramount has settled an antitrust lawsuit brought by a dozen State Attorneys General led by California’s Rob Bonta, the last obstacle to closing its acquisition of Warner Bros. Discovery, Deadline has confirmed. Details were scant but there will be concessions. The deal should be formally announced later this morning. Deadline hears that Paramount has agreed […]
Deadline•Jillg36621 Sept
Paramount has reached a deal with 12 state attorneys general that removes a major obstacle to closing its acquisition of Warner Bros. Discovery. The deal comes just before the company was to begin accruing a $7 million daily “ticking fee” on Oct. 1, which was seen as an important milestone in the case. Bloomberg was […]
Variety•Gmaddaus21 Sept