MarketPR
Paramount has reached a settlement with California and 11 other states that sued to block the $81 billion merger with Warner Bros Discovery, removing the final legal obstacle to consolidating major Hollywood studios under one owner.
The deal, approved by the Justice Department in June, now moves forward after four holdout states agreed to terms over the weekend. An official announcement regarding the settlement is expected later on Monday.
The Operational Concessions The settlement structure addresses the specific antitrust concerns raised by the coalition, which argued that combining two of Hollywood's five legacy studios would extinguish competition.
Paramount reportedly agreed that CBS and CNN would maintain independent editorial boards.
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