Paramount Skydance Expects New York and California to Sue Over $81B Warner Bros. Discovery Merger
Paramount Skydance expects New York and California to file lawsuits to block its $81 billion merger with Warner Bros. Discovery, according to two media reports. The anticipated state actions introduce a new legal challenge for the deal, which would combine Paramount Pictures, CBS News, Warner Bros., HBO and CNN under one corporate umbrella.
The transaction already secured approval from the U.S. Justice Department in June. Meanwhile, European regulators are on track to clear the acquisition by a July 7 deadline, though the European Commission may require Paramount to divest its joint venture with Universal Pictures for international film distribution. Valuations for the European approval process have been reported at $111 billion.
From the sources (5 posts)
@wallstengineEU regulators are reportedly set to approve Paramount’s $PSKY $111B takeover of Warner Bros Discovery, as long as the company accepts certain remedies, per FT. The deal would combine HBO, CNN, CBS News, Paramount Pictures and Warner Bros u
@firstsquawkEU SET TO CLEAR PARAMOUNT’S $111B TAKEOVER OF WARNER BROS: FT
@businessParamount Skydance’s $110 billion takeover of Warner Bros. Discovery is raising questions over filmmakers’ ability to reach audiences in the EU
@nypostParamount Skydance expects New York, California will sue to block $81B merger with Warner Bros. Discovery: sources
@cgasparinoScoop: Paramount Skydance expects New York, California will sue to block $81B merger with Warner Bros. Discovery: sources $PSKY $WBD