Paramount settles with states that sued over Warner Brothers Discovery merger
Paramount has reached an agreement to settle with 12 states that sued the media conglomerate earlier this year over its planned purchase of Warner Brothers Discovery, the two sides announced on Monday. During a press conference in Los Angeles, California Attorney General Rob Bonta — who led the coalition of state AGs suing to block...
Paramount has settled with 12 US states that had sued to block its planned purchase of Warner Brothers Discovery. The states, led by California Attorney General Rob Bonta, had raised antitrust concerns over the $110 billion acquisition.
As part of the settlement, Paramount has pledged to invest $300 million per year in domestic film production, including a commitment to produce 30 films in each of the first two years after the merger.
The agreement also establishes an independent board to ensure objective reporting at CBS News and CNN, and requires separate negotiations for the distribution of basic cable channels owned by Paramount and Warner Bros. for five years. A committee of five states will monitor Paramount's compliance with the antitrust agreement.
Brief written by urgent.news from The Hill, CBS News — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Paramount settles with US states to clear Warner Bros. mega-merger koreatimes.co.kr
- WGA Settles Antitrust Lawsuit With Paramount Over Warner Bros. Discovery Merger variety.com
- Paramount settles with U.S. states over Warner Bros. merger cbc.ca
- Paramount settles with US states in step towards merger with Warner Bros aljazeera.com
