Warner Bros

Paramount-Warner $81 bn merger clears key hurdle as states settle lawsuits

Twelve states and Hollywood writers challenging Paramount's buyout of Warner Bros Discovery agreed to settle their lawsuits on Monday, effectively paving the way for the USD 81 billion mega merger to cross the finish line, with some new commitments from the company. The blockbuster deal will still vastly reshape Hollywood - bringing together two of the "big five" remaining studios, key TV networks like CBS and CNN and streaming platforms HBO Max and Paramount+, as well as decades-old libraries with titles ranging from "Harry Potter" to "Top Gun." But among terms of Monday's agreement announced by California Attorney General Rob Bonta - who led the states' case - Skydance-owned Paramount pledged to increase film production in the U.S., commit millions of dollars to a fund to support workers displaced by the merger and create new monitoring of the editorial independence of the company's news operations. The settlement still needs a final sign-off by a judge. Paramount CEO David Ellis

Paramount settles US states' lawsuit over $110 bn Warner Bros merger

Settlement with California and 11 other states includes independent editorial boards for CNN and CBS and penalties tied to Paramount's annual film-release pledge

Paramount settlement talks include penalty for missing 30-film pledge

Paramount would have to pay $30 million for each film that falls short of that goal, according to two people familiar with the discussions

Paramount settlement talks include plan to keep company in California

Paramount is headquartered in New York, but has substantial operations in Los Angeles

Paramount, states may settle Warner Bros. deal case as soon as this weekend

Terms under discussion include independent monitoring of CNN's content and commitments on theatrical releases as Paramount seeks to clear a key hurdle to its $110 billion acquisition

Paramount and California to hold preliminary talks on Warner Bros deal

The talks are preliminary, ​and there is no assurance that they will lead to meaningful negotiations toward a settlement

Paramount to sign contract with theatre chains guaranteeing 30 films/year

Paramount Skydance has offered AMC and Regal three-year deals to guarantee 30 theatrical releases a year if its $110 billion Warner Bros deal goes through

Warner Bros' misses revenue targets on soft ad sales, weak box-office

Warner Bros Discovery missed Q2 revenue estimates as weak box office and the loss of NBA broadcasts hit studio and advertising sales despite optimism over its Paramount deal

How Warner's streaming gamble sent Christopher Nolan into Universal's arms

Warner Bros' 2021 streaming strategy ended its long partnership with Christopher Nolan. Universal offered a cinema-first approach, leading to the success of Oppenheimer and The Odyssey

Why is Warner Bros taking Amazon to court over one executive hire?

Amazon is facing a lawsuit from Warner Bros. Discovery over the hiring of a senior executive. Here's what the legal battle is about

Paramount delays $81 bn Warner Bros. Discovery buyout amid court challenge

Paramount on Friday agreed to delay closing its USD 81 billion buyout of Warner Bros Discovery well into next year, as a judge continues to consider a challenge from 12 states seeking to block the deal altogether. In a court filing, Paramount said it wouldn't close the merger until either a court ruling is made on the merits of the states' lawsuit or June 1, 2027. The move arrives just days after US District Judge Araceli Martinez-Olguin granted a temporary restraining order to freeze the transaction for several weeks, ruling that the states had raised some "serious questions" and a strong case about the merger's potential to "substantially lessen competition." Paramount called Friday's agreement a "significant win because the result is exactly what we have sought from the outset: a direct path to a trial based on the evidence." The company, which was bought by Skydance just last year, added that this was the "fastest and clearest way" to prove its merger was good for competition an

Federal judge halts Paramount and Warner merger for at least two weeks

A federal judge on Monday ordered Paramount and Warner Bros Discovery to halt their USD 81 billion merger for at least two weeks, allowing states that are challenging the deal more time to see their case through in court. Twelve states, led by California, sued to block Paramount's pending buyout of Warner last week - alleging that such a combination would "extinguish competition" in Hollywood and lead to fewer choices for consumers, particularly moviegoers and cable customers across the US. The states' top prosecutors called on Warner and Paramount to not close the transaction until after a court had time to "fully evaluate" their claims. And when the companies refused, they filed for a temporary restraining order - which is what District Judge Araceli Martinez-Olguin granted on Monday. That opens the door to a potential preliminary injunction that the states are also seeking to effectively block the deal.

Oregon withdraws legal challenge to delay Paramount-Warner Bros. deal

Oregon's AG has withdrawn a court motion seeking to delay Paramount's $110 bn acquisition of Warner Bros, saying the state is considering its next steps after a dispute over access to company records

US Justice Department approves Paramount's acquisition of Warner Bros.

DOJ said it reviewed more than 2 million documents obtained from 80 sources in evaluating the deal's impact on various segments of the entertainment industry

Paramount Skydance to face legal challenge from states on Warner deal

Most of the states that have been weighing the lawsuit are led by Democratic attorneys general although at least two Republican attorney generals are involved in the probe

US regulators poised to approve Paramount's takeover of Warner Bros

The Department of Justice staff attorneys seemed swayed by arguments from top Paramount executives that the deal would not hurt other studios and creative talent

Netflix approves $25 billion share buyback, stock rises in premarket

Shares of the streaming giant rose 1.5 per cent in premarket trading

Paramount in talks to secure $24 bn funds from Gulf for Warner takeover

The merger would combine major studios and networks such as CNN and CBS, enabling them to compete more aggressively as streaming draws audiences away from traditional linear TV

Paramount-Warner deal promises to shake up the streaming landscape

Netflix and YouTube have sat comfortably in the lead, competing head to head for the biggest share of viewing time in living rooms around the world

Paramount's debt to hit $79 billion on $110 billion Warner Bros deal

Takeover likely to get FCC backing