From Variety · Todd Spangler · · 1m 10s
Paramount and States Settle Antitrust Deal
Paramount pledges not to sell studio lots, adds $300M yearly U.S. film investment, and CNN oversight in landmark antitrust settlement with 12 states.
In brief
Paramount pledges not to sell studio lots, adds $300M yearly U.S. film investment, and CNN oversight in landmark antitrust settlement with 12 states. Paramount committed to not selling California studio lots for five years, adding $300 million annually to U.S. film production, and implementing CNN oversight as part of…
Paramount and 12 states settle antitrust case
Paramount has committed to not sell Paramount Studios or Warner Bros. lots in California for at least five years.
Five-year studio lot protection pledge
This comes after Paramount Skydance chief David Ellison threatened to pull up stakes from California if he couldn't close the Warner Bros. Discovery deal by October 1.
Additional $300 million yearly investment
Paramount pledged an additional $300 million annually for U.S. film production as part of the settlement terms.
CNN oversight requirement
The settlement includes CNN oversight to monitor the deal's implementation and compliance with antitrust regulations.
Warner Bros. Discovery merger
The deal paves the way for Paramount's takeover of Warner Bros. Discovery, the biggest merger in Hollywood history.
The one thing
Paramount committed to not selling California studio lots for five years, adding $300 million annually to U.S. film production, and implementing CNN oversight as part of its antitrust settlement with 12 states.
