Paramount gets court green light on Warner Bros deal, names Mattel’s Kreiz co-CEO
The companies said in a statement that the deal is expected to close on Oct 6.
A US judge approved the $110 billion acquisition of Warner Bros by Paramount, allowing the deal to close on October 6. The court dismissed objections from a California-led group of 12 states, ruling that the merger would not harm competition or consumer choice. Mattel CEO Ynon Kreiz has been named co-CEO to oversee the combined business, alongside Paramount chairman and CEO David Ellison.
The merged entity must release a minimum of 30 films per year for five years and allocate $300 million annually to U.S. production. Paramount and Mattel have also settled antitrust lawsuits, with Kreiz joining the company on October 5.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
