Clear path for billion-dollar deal: Paramount agrees in legal dispute over the purchase of Warner Brothers with US states
After months of standstill, the Hollywood group Paramount is back on track to swallow competitor Warner Brothers. The member states are giving up their resistance after concessions.
Paramount has cleared a major hurdle in its bid to acquire Warner Brothers, with several US states dropping their opposition to the $110 billion deal. The company has agreed to invest more in the US and Hollywood, and to establish a new editorial oversight body to ensure the independence of CNN and CBS News. Paramount has also pledged to produce at least 30 films per year for the first two years after the merger, and 32 films per year for the following three years.
The deal has been approved by the US government, but the European Commission required Paramount to exit a joint film distribution agreement with Universal Pictures.
Written by urgent.news from NZZ Wirtschaft's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
Also reported by 4 other outlets
- Paramount to settle lawsuits, paving way for Warner Bros. takeover financialpost.com
- Paramount reaches settlement to clear path for $110bn Warner Bros deal ft.com
- Paramount settles with US states in big step towards closing Warner Bros merger, source says investing.com
- Paramount settles with US states in big step towards closing Warner Bros merger, source says finance.yahoo.com
