Hollywood Megadeal: Paramount on its way to buying Warner after deal with states
After months of standstill, the Hollywood group Paramount is back on track to swallow rival Warner Brothers. US states are dropping their resistance after concessions.
Paramount has cleared a major hurdle in its bid to acquire Warner Brothers, agreeing with several US states that had sought to block the $110 billion deal with a lawsuit. The agreement requires the merged company to invest more in the US and Hollywood, and establish a new editorial oversight body to ensure the independence of CNN and CBS News.
Paramount has also committed to releasing 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 also received approval from the US government and the EU Commission, with the latter requiring Paramount to exit a joint film distribution agreement with Universal Pictures in Europe.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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