US Justice ratifies Warner purchase agreement by Paramount
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The US Justice Department on Wednesday ratified the agreement between Paramount Skydance and 12 states for the acquisition of Warner Bros Discovery, paving the way for a Hollywood empire that will encompass film, television, and news. Judge Araceli Martínez-Olguín, from California, endorsed the consent agreement, which makes binding the concessions Paramount offered to end an antitrust lawsuit filed by the states. The commitments will be valid for five years and the court will be responsible for enforcing them.The parties reached the agreement on September 21, but judicial approval was pending. The decision officially ends nearly three months of legal proceedings and removes the last obstacle to the creation of a new film and television giant.Donald Trump's government approved the deal in June, one of the largest media mergers in history, without demanding changes to its business model, before 12 states filed lawsuits to block the operation.Paramount, led by David Ellison, whose family has ties to US President Donald Trump, won a bidding war with Netflix in February to gain control of a set of assets that includes Warner Bros. Pictures, CNN, and the HBO Max streaming service. Ellison has even already named Mattel CEO Ynon Kreiz as co-CEO of the new company once the merger is finalized."The union of Paramount and Warner Bros. Discovery to create a next-generation global media...
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