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BusinessQuiet 4d · day 5

States settle Paramount-WBD merger lawsuit, clearing $55B deal

California AG Bonta ends 12-state antitrust challenge in exchange for editorial independence board and theatrical film commitments.

newest coverage 4d agosummary written 4d ago5 pieces RedditNewswiresGoogle News

What to know

  • A 12-state antitrust lawsuit blocking Paramount's $55 billion acquisition of Warner Bros. Discovery has been settled, allowing the merger to close by early October.
  • Paramount agreed to release 30 films annually in theaters and establish a five-member editorial independence board for CBS News and CNN within 180 days, with board members drawn from established journalists.
  • The deal allows billionaire Larry Ellison, a Trump ally, and his son David Ellison to consolidate major U.S. media assets; Middle Eastern sovereign wealth funds will indirectly own just under 50 percent of the merged entity.

Rob BontaRob Bonta California Attorney GeneralDavid Ellison Paramount CEOLarry EllisonLarry Ellison Oracle co-founder, Paramount ownerDavid ZaslavDavid Zaslav Warner Bros. Discovery CEO

States settle Paramount-WBD merger lawsuit, clearing $55B deal
cnn.com

How it unfolded 1 development · click the chart to see its coverage articlesposts

Peak 2 pieces in two hours at Sep 21, 10 AM; 5 pieces over 5 days (3 articles · 1 post · 1 comment) Sep 21, 10 AM — 2 pieces · 2 articles — Google News 1, Newswires 1Sep 21, 12 PM — 1 piece · 1 post — Reddit 1Sep 21, 2 PM — 1 piece · 1 article — Google News 1Sep 21, 4 PM — quietSep 21, 6 PM — quietSep 21, 8 PM — quietSep 21, 10 PM — quietSep 22, 12 AM — quietSep 22, 2 AM — quietSep 22, 4 AM — 1 piece · 1 comment — Reddit 1Sep 22, 6 AM — quietSep 22, 8 AM — quietSep 22, 10 AM — quietSep 22, 12 PM — quietSep 22, 2 PM — quietSep 22, 4 PM — quietSep 22, 6 PM — quietSep 22, 8 PM — quietSep 22, 10 PM — quietSep 23, 12 AM — quietSep 23, 2 AM — quietSep 23, 4 AM — quietSep 23, 6 AM — quietSep 23, 8 AM — quietSep 23, 10 AM — quietSep 23, 12 PM — quietSep 23, 2 PM — quietSep 23, 4 PM — quietSep 23, 6 PM — quietSep 23, 8 PM — quietSep 23, 10 PM — quietSep 24, 12 AM — quietSep 24, 2 AM — quietSep 24, 4 AM — quietSep 24, 6 AM — quietSep 24, 8 AM — quietSep 24, 10 AM — quietSep 24, 12 PM — quietSep 24, 2 PM — quietSep 24, 4 PM — quietSep 24, 6 PM — quietSep 24, 8 PM — quietSep 24, 10 PM — quietYesterday, 12 AM — quietYesterday, 2 AM — quietYesterday, 4 AM — quietYesterday, 6 AM — quietYesterday, 8 AM — quietYesterday, 10 AM — quietYesterday, 12 PM — quietYesterday, 2 PM — quietYesterday, 4 PM — quietYesterday, 6 PM — quietYesterday, 8 PM — quietYesterday, 10 PM — quietToday, 12 AM — quietToday, 2 AM — quietToday, 4 AM — quietToday, 6 AM — quietToday, 8 AM — quietToday, 10 AM — quietToday, 12 PM — quiet 1
Sep 22Sep 23Sep 24yesterdaynow · 1:38 PM ET
  1. 1

    David Ellison thanks state AGs for settlement

    Paramount CEO David Ellison welcomed the agreement, framing it as advancing Hollywood's competitiveness and consumer choice.

    “Our goal has always been to build a stronger Hollywood — one with more stories told, greater choice for consumers and stronger competition.”
    — David Ellison

    • Even if the courts did favor the merger, it’s not like they lost their leverage. Come October paramount starts paying $7m a day. Trial wasn’t set until March. They’d be in for another 1.05bn by March

      The_GOATest1r/business4d agoview on r/business ↗
  2. background

    Paramount commits to editorial board and theatrical releases — As settlement terms, Paramount agreed to release 30 films per year in theaters and establish a news editorial independence board within 180 days of closing. The five-member board will comprise established journalists with at least 10 years of experience, monitor editorial independence from ownership, and resolve disputes over reporting bias.

  3. background

    State attorneys general settle Paramount-WBD merger lawsuit — California Attorney General Rob Bonta, leading a 12-state coalition, announced a settlement clearing the way for Paramount's acquisition of Warner Bros. Discovery to proceed. The deal is expected to close by early October.

Also covered reported alongside — the timeline has no entry for these yet

  1. 3 outlets State attorneys general agree to settle Paramount merger lawsuit

    first by cnn.com, 4d ago · also KEYT-TV, CNN