Warner Bros. Merger Back On: Paramount Settles Antitrust Suit
Paramount reached a settlement on Monday resolving the antitrust lawsuit that delayed its acquisition of Warner Bros. Discovery, as reported earlier by The New York Times. If approved by the courts, this would remove the last major obstacle to the proposed $111 billion merger, creating one of the world’s largest media companies. The deal includes oversight to ensure the editorial independence of news organizations and a commitment to protections for film production and cable pricing, but no requirement for Paramount to relinquish control of its primary networks or film studios.
In July, a group of 12 state attorneys general — led by California Attorney General Rob Bonta — sued Paramount, arguing the merger would concentrate too much control over news networks, cable TV and the movie industry. The suit followed a year-long bidding battle for Warner Bros. Discovery, leaving Paramount CEO David Ellison as the top bidder after Netflix...
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