How Gulf-backed Paramount cleared last hurdle in $110 billion Warner Bros deal

Dubai: Paramount Skydance and Warner Bros. Discovery are edging closer to completing their $110 billion merger, after overcoming major hurdles. The UAE, Saudi Arabia and Qatar have pledged a combined $24 billion in investment funds to support the acquisition. Paramount has also settled lawsuits brought by 12 US states and the Writers Guild of America, addressing competition concerns and foreign ownership.

Under a five-year settlement, the merged company must release 30 films annually for the first two years and 32 per year for the following three years, with at least four releases each year being independent films. The combined company will also spend an additional $1.5 billion on US film production and put $25 million into a fund for independent films.