Paramount settles states' lawsuit, clearing Warner Bros. deal
Paramount has resolved the antitrust lawsuit brought by 12 US states over its planned acquisition of Warner Bros. Discovery, removing the last major legal barrier to the $110 billion deal. As part of the settlement, Paramount has agreed to measures such as establishing a board to oversee news organization independence, spending $1.5 billion on film production over five years, and committing to release 30 movies in theaters annually. Terms of the settlement are not fully public.
- Twelve states dropped legal efforts to block the merger
- Paramount agreed to oversight board for news outlets
- $1.5 billion pledged for film production in five years
- Commitment made to distribute 30 movies in theaters yearly
- Details of the settlement agreement remain undisclosed
Sources covering this
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