From The Banner · Wyatte Grantham-Philips and Michael Sisak, Associated Press · · 1m
States settle Paramount-Warner merger lawsuit
States and Paramount reach deal to clear antitrust hurdle for $81B merger
In brief
States and Paramount reach deal to clear antitrust hurdle for $81B merger States agreed to terms that require Paramount to boost domestic film production and monitor news editorial independence Originally reported by The Banner.
States settle Paramount lawsuit
California Attorney General Rob Bonta announced a settlement with Paramount to clear antitrust hurdles for the $81 billion merger with Warner Bros. Discovery.
“Today, billionaires have yet again bribed, censored, and bullied their way to the top.”
Mega merger details
The deal combines two of Hollywood's oldest studios, key TV networks like CBS and CNN, and streaming platforms HBO Max and Paramount+.
New commitments
Paramount must increase domestic film production and monitor editorial independence of its news operations under the settlement terms.
State lawsuit
California and New York led a coalition of states that sued to block the merger, claiming it would reduce competition and consumer choices.
Critics warn
Critics warned the deal would lead to layoffs, higher cable bills, and more expensive movie tickets across the U.S.
The big picture
States agreed to terms that require Paramount to boost domestic film production and monitor news editorial independence
