Latest in Paramount-Bonta Negotiations: ‘Hold Separate’ Maneuver May Be Key as Deal Nears | Exclusive
The move could save face and allow the merger to proceed provisionally The post Latest in Paramount-Bonta Negotiations: ‘Hold Separate’ Maneuver May Be Key as Deal Nears | Exclusive appeared first on TheWrap .
Negotiations between Warner Bros. Discovery and Paramount Skydance are nearing a resolution, with a "hold separate" maneuver potentially paving the way for the $110 billion merger to proceed, according to TheWrap's sources. This move would allow the merger to move forward while potential antitrust litigation between the studio and California Attorney General Rob Bonta continues.
The "hold separate" arrangement would grant Paramount an additional ten days to avoid a hefty $650 million per quarter fee starting on October 1. If the litigation prevails, the deal would need to be undone. Paramount CEO David Ellison has promised an independent oversight board to oversee CNN and CBS News, as well as the production of 30 films per year.
While Bonta is under pressure from fellow state Democrats and Paramount's threat to leave California, not all 12 AGs are in agreement to settle. New York AG Letitia James and AGs from two other states are not inclined to settle, potentially complicating the deal.
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