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Bloomberg entertainment reporter Lucas Shaw is on Bloomberg This Weekend examining Paramount Skydanceโs acquisition of Warner Bros. Discovery and the challenge of turning two legacy media companies into a growing business as cable declines and streaming growth slows. Speaking with Lisa Mateo, Shaw says the merger could reshape Hollywood while raising questions about debt, further consolidation and whether streaming companies such as Netflix need new sources of growth. (Source: Bloomberg)
Twelve states and Hollywood writers challenging Paramountโs buyout of Warner Bros. Discovery agreed to settle their lawsuits on Monday, effectively paving the way for the $81 billion mega merger to cross the finish line, with some new commitments from the company.
Paramount has reached a settlement with a group of US states that clears the way for its takeover of Warner Bros. Discovery, officials announced Monday, creating a Hollywood empire spanning television, news and cinema.
Paramount has reached a settlement with California and 11 other states that clears a major legal hurdle to its $110 billion takeover of Warner Bros. Discovery, with the deal imposing commitments on film production, jobs and editorial independence at CNN and CBS News.
Ellison-led Paramount will avoid daily $7m fee if the $110bn Warner Bros merger closes by September 30.