conv.

All stories
BusinessQuiet 5d · day 5

Paramount-Warner Bros. merger clears antitrust challenge after settlement

California and other states settle lawsuit, clearing $111B deal to close within days despite WGA wage concerns.

newest coverage 4d agosummary written 4d ago2 pieces Newswires

What to know

  • Paramount Skydance and California-led state attorneys general settled the antitrust lawsuit blocking the $111 billion Warner Bros. Discovery acquisition after marathon negotiations.
  • The settlement requires 30+ films annually and expanded U.S. film production; California AG Bonta stipulated the settlement was not an endorsement of the deal.
  • The merger can now close within 10 days, avoiding $7 million-per-day penalty fees beginning October 1, despite ongoing labor concerns from the Writers Guild.

“The state attorneys general, led by California's Bonta had sued to block the deal, alleging that the merger would give the combined Paramount-Warners too much control over basic cable TV and the theatrical film business.”

RedState, Reporting outlet · RedState ↗ · Sep 20

David Ellison Paramount CEORob BontaRob Bonta California Attorney GeneralParamount Skydance Acquiring companyWarner Bros. Discovery Acquisition targetWriters Guild of AmericaWriters Guild of America Labor opponent

Paramount-Warner Bros. merger clears antitrust challenge after settlement
RedState

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

Peak 1 piece in two hours at Sep 21, 11 AM; 2 pieces over 5 days (2 articles) Sep 21, 11 AM — 1 piece · 1 article — Newswires 1Sep 21, 1 PM — quietSep 21, 3 PM — quietSep 21, 5 PM — 1 piece · 1 article — Newswires 1Sep 21, 7 PM — quietSep 21, 9 PM — quietSep 21, 11 PM — quietSep 22, 1 AM — quietSep 22, 3 AM — quietSep 22, 5 AM — quietSep 22, 7 AM — quietSep 22, 9 AM — quietSep 22, 11 AM — quietSep 22, 1 PM — quietSep 22, 3 PM — quietSep 22, 5 PM — quietSep 22, 7 PM — quietSep 22, 9 PM — quietSep 22, 11 PM — quietSep 23, 1 AM — quietSep 23, 3 AM — quietSep 23, 5 AM — quietSep 23, 7 AM — quietSep 23, 9 AM — quietSep 23, 11 AM — quietSep 23, 1 PM — quietSep 23, 3 PM — quietSep 23, 5 PM — quietSep 23, 7 PM — quietSep 23, 9 PM — quietSep 23, 11 PM — quietSep 24, 1 AM — quietSep 24, 3 AM — quietSep 24, 5 AM — quietSep 24, 7 AM — quietSep 24, 9 AM — quietSep 24, 11 AM — quietSep 24, 1 PM — quietSep 24, 3 PM — quietSep 24, 5 PM — quietSep 24, 7 PM — quietSep 24, 9 PM — quietSep 24, 11 PM — quietYesterday, 1 AM — quietYesterday, 3 AM — quietYesterday, 5 AM — quietYesterday, 7 AM — quietYesterday, 9 AM — quietYesterday, 11 AM — quietYesterday, 1 PM — quietYesterday, 3 PM — quietYesterday, 5 PM — quietYesterday, 7 PM — quietYesterday, 9 PM — quietYesterday, 11 PM — quietToday, 1 AM — quietToday, 3 AM — quietToday, 5 AM — quietToday, 7 AM — quietToday, 9 AM — quietToday, 11 AM — quietToday, 1 PM — quiet ◂ 1 earlier
Sep 22Sep 23Sep 24yesterdaynow · 2:27 PM ET
  1. 1

    Settlement includes 30+ films annually and expanded U.S. production commitments

    Paramount CEO David Ellison stated the agreement memorializes commitments including 30+ films annually and expanded U.S. film production to help revitalize the industry. The settlement allows Paramount to avoid $7 million-per-day ticking fees set to begin October 1, with the deal expected to close within approximately 10 days.

    “We're confident this agreement does exactly that, memorializing a series of commitments that include 30+ films annually and expanded U.S. film production.”
    — David Ellison
  2. background

    Paramount and state AGs settle antitrust lawsuit over Warner Bros. merger — After days of marathon negotiations, Paramount Skydance and state attorneys general, led by California's Rob Bonta, reached a settlement in the antitrust challenge to the $111 billion Warner Bros. Discovery acquisition. The agreement was announced at a press conference in Los Angeles on Yom Kippur.