Economy
Paramount Closer to Warner Bros. Acquisition After State Agreement
Paramount has removed a major obstacle to its $110 billion acquisition of Warner Bros. by reaching an agreement with U.S. states that previously attempted to block the deal via litigation. The settlement requires Paramount to release at least thirty theatrical films annually, paying $30 million for each shortfall, and mandates independent editorial boards for CBS and CNN. California led eleven other states in challenging the merger due to concerns over excessive market concentration in Hollywood.
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