CHICAGO (AP) — A federal judge has now granted Paramount’s settlement agreement with 12 states that sued over the company’s takeover of Warner Bros. Discovery, allowing the companies to soon close their $81 billion mega merger.
\n\nIn a Wednesday order, U.S. District Judge Araceli Martínez-Olguín ruled that the proposed consent decree was a “fair, reasonable, and good faith approach to address the competitive harms” alleged by the states’ lawsuit. Paramount previously called the antitrust challenge the last hurdle ahead of closing its Warner merger, and signaled that it aims to close its Warner acquisition as soon as early October.
\n\nShortly after Martínez-Olguín’s ruling on Wednesday afternoon, the company announced that Ynon Kreiz — current chief executive at toy giant Mattel — will join Paramount on Oct. 5 and serve as co-CEO alongside David Ellison of the combined company.
\n\nA Paramount-Warner marriage will bring together two of Hollywood’s last five legacy studios. HBO Max, a library full of titles including “Harry Potter” and cable networks such as CNN will also find themselves under the same roof with CBS, the likes of the “Top Gun” franchise and the Paramount+ streaming service.
\n\nTop prosecutors from 12 states — led by California Attorney General…
Original source: https://www.breitbart.com/entertainment/
