Ellisons Clear $111 Billion WBD Takeover After States Settle Antitrust Suit
Updated
Updated · Business Insider · Sep 21
Ellisons Clear $111 Billion WBD Takeover After States Settle Antitrust Suit
3 articles · Updated · Business Insider · Sep 21
Summary
$111 billion in financing can now move toward closing after Paramount settled a multistate lawsuit that had been the last serious obstacle to the Ellisons' Warner Bros. Discovery acquisition.
California Attorney General Rob Bonta dropped demands for structural remedies and instead secured an enforceable pledge that the combined studios will release at least 30 films a year.
David Ellison said earlier Monday the merger could close within two weeks, putting HBO, CBS, CNN and two major movie studios under the family's control.
The settlement caps a yearlong contest in which Trump's Justice Department approved the deal in June, Netflix abandoned a rival effort, and state regulators ultimately failed to stop the merger.