BREAKING: Paramount to Settle Suits Against Warner Bros. Merger
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News when you wanted with Bloomberg News Now. I'm Nathan Hager, and we have news that could pave the way for one of the biggest media mergers in history. A source tells Bloomberg News Paramount Skydance has reached a settlement with California and other states that were suing to block its proposed acquisition of Warner Brothers Discovery. Our source says settlement talks came to fruition over the weekend after four states: Massachusetts, New York, Connecticut. Connecticut and Minnesota ultimately concluded the expense of a legal battle was not justifiable without California at the helm. The terms for the deal are said to include a financial penalty if Paramount fails to make good on a promise to distribute thirty films per year in theaters.
Bloomberg News had previously reported that the discussions included Paramount having to pay thirty million dollars for each film that falls short of that goal. Right now, Paramount Skydance shares are surging. They're up twelve percent. Warner Brothers Discovery, that's on the rise by ten percent. That's news when you want it with Bloomberg News Now. I'm Nathan Hager and this is Bloomberg.
Hi, I'm Tom Keane, inviting you to join me for the Bloomberg Surveillance Podcast. It's about making you smarter every business day.
I'm Paul Sweeney. We bring you complete coverage of stocks, bonds, commodities, even crypto. All the information you need to excel in the markets.
And I'm Alexis Christopherus. Listen to us for essential conversations with the smartest names in economics, finance, investment, and international relations.
That's the Bloomberg Surveillance Podcast. Subscribe today on Apple, Spotify, or anywhere you listen. Hi, I'm Tom Keane, inviting you to join me for the Bloomberg Surveillance Podcast. It's about making you smarter every business day.
I'm Paul Sweeney, we bring you complete coverage of stocks, bonds, commodities, even crypto. All the information you need to excel in the markets.
And I'm Alexis Christopheris. Listen to us for essential conversations with the smartest names in economics, finance, investment, and international relations.
That's the Bloomberg Surveillance Podcast. Subscribe today on Apple, Spotify, or anywhere you listen.
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