Paramount could settle with states over Warner Bros. as soon as this weekend, sources say
A settlement this week could help Paramount avoid paying millions of dollars in fees to Warner Bros. shareholders, Reuters reported.
TL;DR
- Paramount and states may settle the acquisition of Warner Bros. as soon as this weekend.
- Discussions include independent content monitoring for CNN and a commitment to theatrical releases.
- A settlement could help Paramount avoid paying a $7 million-a-day "ticking fee" to Warner Bros. shareholders.
- The acquisition aims to make Paramount a major rival to Netflix and Walt Disney.
- California and 11 other states sued to block the deal, fearing a media behemoth that could raise prices.
- The Writers Guild of America has also sued to stop the transaction, citing concerns over pay and working conditions.
- Paramount CEO David Ellison is pushing for consolidation amid market erosion in Hollywood.