State AGs Clear Paramount's $110 Billion Warner Deal After Settlement
Updated
Updated · CNN · Sep 21
State AGs Clear Paramount's $110 Billion Warner Deal After Settlement
3 articles · Updated · CNN · Sep 21
Summary
$110 billion Paramount-Warner Bros. Discovery merger is now expected to close in early October after California Attorney General Rob Bonta said 12 suing states settled their antitrust case.
Paramount secured the deal by agreeing to release 30 films a year in theaters and create a news editorial independence board for CBS News and CNN.
The settlement averts further delay before an October 1 ticking fee that would have raised the acquisition cost and potentially endangered the transaction.
The merger remains politically contentious because David Ellison and his father Larry Ellison are close to President Donald Trump, while Saudi, Qatari and Abu Dhabi funds will hold just under a 50% indirect equity stake.
Some state attorneys general still viewed the final terms as too weak, underscoring broader fears that the tie-up would concentrate media power even as Paramount argues it needs scale against tech rivals.