All articles tagged with #paramount wbd
A federal court will hear an emergency motion by about a dozen state attorneys general to temporarily pause Paramount’s merger with Warner Bros. Discovery. Judge P. Casey Pitts set a Friday 10 a.m. PT hearing on a TRO, with Paramount’s opposition due by noon Thursday; the states seek a ruling by July 22, timing that coincides with EU review, even though the DOJ has already cleared the deal.
A dozen state attorneys general, led by California AG Rob Bonta, filed a federal lawsuit in Sacramento to block Paramount’s $110 billion acquisition of Warner Bros. Discovery, arguing the deal would stifle competition in wide-release film distribution, big-budget production, and basic cable channels, potentially raising prices for theaters, distributors, and consumers. They contend Paramount-WB would control a outsized share of box office and cable assets, giving the merged company excessive bargaining power, while Paramount argues the merger would boost competition against streams and pledges to release at least 30 theatrical films annually. A possible injunction could pause the deal as litigation unfolds.
At Allen & Co.'s Sun Valley gathering, media and tech moguls huddle over Comcast’s plan to split broadband/cable/wireless from NBCUniversal and Sky, Skydance’s progress toward Paramount-WBD, and AI’s rising role in the industry, all amid regulatory scrutiny and ongoing deal-making that could reshape the media landscape.
The European Commission is set to conduct a multi-stage antitrust review of Paramount's $110 billion deal to merge with Warner Bros. Discovery, a process expected to slow the transaction more than block it. After a 25-working-day preliminary check, Brussels could launch a Phase II review, potentially stretching the timeline beyond a year. The EU will scrutinize overlaps across cinema distribution, TV channels, and streaming platforms, and may require divestitures; the UK review might be simpler. Financing from Middle Eastern funds and the EU's foreign subsidies rules add another layer of scrutiny. Overall, while approval remains likely, EU hurdles could push the close further out than in the U.S.
Netflix dropped its bid for Warner Bros., removing a trigger for a Senate antitrust hearing on Paramount’s bid for Warner Bros. Discovery. Senate Judiciary antitrust chair Mike Lee gave no clear indication of whether a hearing will be held, while Democrat Cory Booker urged Paramount CEO David Ellison to testify next week.