Judge Holds Off on Paramount-Warner Bros. Merger Settlement Ruling
Araceli Martinez-Olguin ordered the parties to respond to concerns from Sen. Corey Booker by Monday The post Judge Holds Off on Paramount-Warner Bros. Merger Settlement Ruling appeared first on TheWrap .
Judge Araceli Martinez-Olguin has postponed her ruling on the $110 billion merger between Paramount Skydance and Warner Bros. Discovery, which has been the subject of antitrust litigation by 12 state attorneys general. During a Thursday hearing, the judge requested further input from the involved parties and two additional groups, The Block the Merger coalition and The League of United Latin American Citizens (LULAC).
Sen. Corey Booker, one of the plaintiffs, has urged the court to conduct an independent public-interest review of the proposed consent decree before it is formally approved. The judge has also asked for the consent decree to be sent to her in a written format, with the possibility of receiving responses to amicus briefs from the coalition and LULAC.
Paramount has agreed to invest a minimum of $300 million per year for five years in U.S. film and TV production, release a minimum number of films per year, and maintain certain commitments related to theatrical windows and streaming availability. Failure to comply with these provisions could result in penalties and divestitures of various studios.
The judge aims to provide an official ruling in due course after reviewing the additional materials.
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