13 Hrs
Source:
Los Angeles Times
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Paramount and AGs settle lawsuit paving Warner Bros. merger
California Attorney General Rob Bonta has reached a settlement with Paramount Skydance CEO David Ellison to resolve antitrust claims related to Ellison’s proposed acquisition of Warner Bros. Discovery. The agreement, pending federal approval, allows the $111-billion merger to proceed and requires Paramount to distribute 30 films annually and invest $1.5 billion in Hollywood over five years. This deal clears the way for the merger, which will combine two historic film studios and major streaming services, reshaping Hollywood.
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