Paramount settles with US states to clear Warner Bros mega-merger
LOS ANGELES, (United States): Paramount has reached a settlement with a group of US states that clears the way for its takeover of Warner Bros. Discovery, officials announced Monday, creating a Hollywood empire spanning television, news and cinema. Paramount, which is run by David Ellison, whose ultra-wealthy family has ties to US President Donald Trump, won a bidding war against Netflix in…
Paramount has settled a legal dispute with a group of US states, paving the way for its acquisition of Warner Bros. Discovery, according to a report by Business Recorder. The deal, which was announced on Monday, will create a major media conglomerate encompassing television, news, and cinema. Paramount, under the leadership of CEO David Ellison, emerged victorious in a bidding war against Netflix for the assets, which include Warner Bros.
Pictures, CNN, and HBO Max. The Trump administration had previously approved the merger in June, despite 12 US states filing a lawsuit to challenge the transaction.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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