A federal judge has now granted Paramount’s settlement agreement with 12 states that sued over the company’s takeover of Warner Bros. Discovery, allowing the companies to soon close their USD 81 billion mega merger.
In a Wednesday order, US District Judge Araceli Martinez-Olguin ruled that the proposed consent decree was a “fair, reasonable, and good faith approach to address the competitive harms” alleged by the states’ lawsuit. Paramount previously called the antitrust challenge the last hurdle ahead of closing its Warner merger, and signalled that it aims to close its Warner acquisition as early as October.
Shortly after Martinez-Olguin’s ruling on Wednesday afternoon, the company announced that Ynon Kreiz – current chief executive at toy giant Mattel – will join Paramount on October 5 and serve as co-CEO alongside David Ellison of the combined company.
A Paramount-Warner marriage will bring together two of Hollywood’s last five legacy studios. HBO Max, a library full of titles .
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