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A court has approved a settlement that removes a legal obstacle to Paramount Skydance’s planned $110 billion takeover of Warner Bros Discovery.
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The ruling in Oakland approves a settlement between Paramount and 12 US states that sued to block the proposed takeover, ANP/Bloomberg reported via Nieuws.nl. Prosecutors in Democratic-led states feared that the combined company would have too much market power across film and television. [1]
Under the agreement, Paramount has pledged to set up boards to oversee the editorial independence of CBS and CNN. [1]
The agreement also requires the company to release at least 30 films in cinemas each year. The ruling concerns the states’ challenge to the proposed takeover, rather than the completion of the deal. [1]
1 listed sources · explore evidence, limitations and provenance.
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