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With the $11 billion merger of Paramount-Skydance with Warner Bros. Discovery, just five corporations now control 90% of the U.S. media landscape. Ali Velshi explains why mega media mergers pose a threat to democracy.
State attorneys general suing to block Paramount’s acquisition of Warner Bros. Discovery, CNN’s parent company, have reached a settlement, bringing the companies closer to completing the merger, according to sources involved in the negotiations. CNN's Brian Stelter reports.
A dozen states and the Writers Guild of America had challenged the merger.
A federal judge on Monday ordered Paramount and Warner Bros
State attorneys general are said to be getting ready to file a lawsuit as soon as this week to halt the $111 billion deal, a potential major obstacle.
The $111 billion deal would unite two major movie studios and put CNN under the same roof as CBS News.
The host said goodbye to the CBS show after two decades.
The layoffs affected several dozen employees at the news division, which is owned by the technology heir David Ellison.
| Keywords | cbs-newsbari-weisslayoffsmediaentertainmentbusinessdavid-ellisonparamount-globaljournalismmedia-industrynew-york-timestechacquisitionstaff-cutsbroadcastingnews-coveragetechnology |
Global officials are expected to closely examine the $111 billion deal, which ties together two entertainment powerhouses, over potential competition issues.
The nearly $111 billion marriage would unite Paramount and Warner film studios, streamers and television properties — including CNN — under the control of the wealthy Ellison family.