NYTIMES (Sharon Waxman) - Hollywood Surrenders to the Ellison Empire
There’s no sense of triumph or even defeat, merely numb exhaustion.
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There’s no sense of triumph or even defeat, merely numb exhaustion.
Inside the settlement talks between the media mogul David Ellison and the coalition of states seeking to block his $111 billion deal.
Hollywood watchers believe the studio prevailed over states seeking to block its deal for Warner Bros. Discovery. It’s now free to reshape the media industry.
With Paramount and Warner Bros. under his control, Mr. Ellison will be “the Hollywood equivalent of Superman, Caesar and Midas combined.” But challenges remain.
Plus, news outlets sue Trump over White House ban. Here’s the latest at the end of Monday.
The much-discussed merger of two Tinseltown giants, Paramount Skydance and Warner Bros. Discovery will now be moving forward, with the settlement of an antitrust lawsuit. The deal's negotiations involved the companies and several state attorney generals, and the cost of the acquisition by Paramount is an eye-popping $111 billion, but now it's moving ahead.
Few seem totally satisfied by the settlement that will let Paramount’s $111 billion acquisition of Warner Bros. Discovery move forward.
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.
"We believe further consolidation in markets does not serve the American economy, consumers or competition well," California AG Rob Bonta said.
Paramount Skydance reportedly reached a settlement with Democratic state attorneys general, clearing a key hurdle for its Warner Bros. merger.