US judge approves settlement allowing Paramount to acquire Warner Bros
Summary
A US judge has approved Paramount’s $110 billion purchase of Warner Bros after a settlement with 12 states that had sued to stop the deal. The agreement includes rules to keep film releases steady, separate cable negotiations for channels, and a group to protect the independence of news networks like CNN and CBS.Key Facts
- Paramount is buying Warner Bros for $110 billion.
- Twelve US states sued to block the merger, citing concerns over less competition.
- The states dropped the lawsuit after reaching a settlement with Paramount and Warner Bros.
- The deal requires Paramount to release at least 30 films per year in the US.
- Paramount must negotiate separately with cable providers for Warner-owned and Paramount-owned channels.
- A five-member panel will oversee the editorial independence of CNN and CBS news.
- David Ellison, Paramount’s CEO, controls appointments to the news oversight panel.
- The merger was approved by the Trump administration in June without changes.
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