From The Hollywood Reporter · Alex Weprin,Winston Cho · · 1m 10s
Paramount and 12 States Settle Warner Bros. Deal
Paramount and 12 states settle Warner Bros. antitrust lawsuit.
In brief
Paramount and 12 states settle Warner Bros. antitrust lawsuit. Paramount and 12 state attorneys general agreed to a deal to avoid $7 million-per-day fees if the Warner Bros. acquisition closes within 10 days. Originally reported by The Hollywood Reporter.
Settlement Announcement
California attorney general Rob Bonta held a press conference in Los Angeles on Monday.
Deal Terms
Paramount and 12 state attorneys general agreed to settle the antitrust lawsuit over the $111 billion Warner Bros. Discovery acquisition.
Ticking Fee Avoidance
The settlement allows Paramount to avoid $7 million-per-day fees if it closes the deal within 10 days.
Industry Reaction
Paramount CEO David Ellison praised the deal terms, saying they would serve consumers, workers, and the creative community.
Production Commitments
Paramount committed to releasing 30+ films annually and expanding U.S. film production to revitalize the industry.
Legal Context
The states sued to block the deal, claiming it would give too much control over cable TV and theatrical films.
Next Steps
Paramount must close the deal within 10 days to avoid $7 million-per-day fees or face legal consequences.
The headline
Paramount and 12 state attorneys general agreed to a deal to avoid $7 million-per-day fees if the Warner Bros. acquisition closes within 10 days.
