Paramount relocation from California and antitrust battle
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Newsom denies pressuring California AG into Paramount settlement
Senator Elizabeth Warren condemned the settlement on Monday, calling it a disastrous outcome that greenlights an anti-monopoly disaster.
Critics accused Bonta and Newsom of caving to Paramount amid reports that CEO David Ellison was considering moving the company's headquarters out of California if a deal was not made.
Gavin Newsom denied that he pressured California Attorney General Rob Bonta to settle his antitrust lawsuit with Paramount Skydance Corp.
Paramount-Warner Bros. settlement to be considered at Thursday court hearing
Under the settlement, at least half of the films must be produced or jointly produced by the combined company.
A violation of the basic-cable negotiation term could force the studio to divest from BET, VH1 and Comedy Central.
A dozen states challenged Paramount's $110 billion bid to acquire Warner Bros. Discovery.
Cory Booker on Paramount-WBD merger settlement
Cory Booker is the top Democrat on the Senate Judiciary antitrust subcommittee.
The settlement agreement does not force Paramount to shed assets unless it fails to honor a list of behavioral remedies.
Booker said the merger threatens the First Amendment.
Paramount announces 36-film 2027 slate post-merger
If merged as of the article's reporting, the combined studios would count $838.3 million at the YTD domestic box office for an 11% market share, ranking fourth behind Universal, Sony, and Walt Disney.
The AGs' demand from the merged entity beyond 2029 is for 32 films annually over three years.
The 36 films set for 2027 were organic theatrical releases planned before the merger.
Judge sets hearing on state AGs settlement with Paramount and Warner Bros. Discovery
Judge Martinez-Olguin wrote in an order Tuesday that the hearing would address outstanding questions regarding the factual and legal underpinnings and implementation of the proposed consent decree.
The parties filed a motion to approve the consent decree to resolve the lawsuit brought by state attorneys general in July.
U.S. District Judge Araceli Martinez-Olguin set the hearing for 11 a.m. PT via Zoom.
Paramount settles lawsuits with US states, clearing way for Warner merger
There is a $30 million penalty per film if Paramount falls short of its film release pledges, with 90% going to workers.
Paramount and Warner Bros are required to continue negotiating cable packages separately.
The WGA settlement includes a prohibition on writer layoffs at CBS News' broadcast team for five years and a $17.5 million payment toward the guild's health fund.
“Now that the Attorneys General have settled with Paramount, however, as a nonprofit, the WGA must contend with the reality of forging ahead alone, with no backing from government enforcers, with a complex antitrust lawsuit that would cost millions of dollars to pursue through trial.”
Paramount settlement talks with AGs face opposition
Two days of court-ordered settlement talks have been set for mid-October.
The coalition of state Attorneys General is led by California AG Rob Bonta.
New York AG Letitia James is not as in step with Bonta on settling with Paramount as she was previously.
Paramount announces departure from California amid antitrust battle
L.A. Mayor Karen Bass and state Attorney General Rob Bonta were told a deposit has been put down on moving trucks.
The U.S. Department of Justice sided with Paramount on jurisdiction and the bond request.
Paramount executives have promised the combined company will release at least 30 films a year.