Paramount reaches settlement with US states over Warner Bros. Discovery takeover
The proposed agreement removes a major legal obstacle to Paramount’s planned acquisition, but does not confirm the takeover is complete.
Paramount has reached a proposed settlement with a group of US states that challenged its planned takeover of Warner Bros. Discovery, according to France 24 International.
The settlement was announced on Monday and is intended to remove a significant legal obstacle to the proposed transaction. If completed, the deal would create a major entertainment company spanning television, news and cinema.
The states had brought an antitrust challenge, arguing that the acquisition could harm competition and the entertainment industry. California, New York, Washington and nine other states filed the lawsuit in July, after which a judge paused the transaction.
Reported terms of the proposed agreement include minimum annual theatrical film releases and safeguards concerning editorial independence at CBS News and CNN. Those conditions have not been fully confirmed in the source material.
The settlement does not establish that the takeover has been completed. Other regulatory or corporate approvals may still be required.
