Media Group: Paramount Agrees with Suing States over Warner Acquisition
Shares in Warner Bros Discovery rose almost 10 percent after the report, while Paramount shares were up around 7 percent.
Paramount has cleared a major hurdle in its bid to acquire Warner Brothers, with a settlement reached with US states that had sought to block the $110 billion deal with a lawsuit. The agreement, reportedly reached over the weekend, was announced by California Attorney General Rob Bonta. The deal had been challenged by a coalition of 12 states led by California, which argued that the merger would reduce competition in film distribution and cable TV channel licensing.
Following the news, Warner Bros Discovery shares rose nearly 10% and Paramount shares were up around 7%. As part of the settlement, Paramount agreed to establish independent editorial boards for CBS and CNN.
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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