Paramount wins Warner Bros takeover with settlement
Paramount Skydance emerged victorious on Monday from a legal battle over its US$110 billion acquisition of Warner Bros Discovery after settling with a California-led group of US states and a Hollywood writers union, paving the way for one of the largest media mergers in history. The settlement marks a major win for Paramount CEO David Ellison, who battled the states for months to finalise a deal that would dramatically concentrate power across Hollywood's film, TV, streaming and news businesses. Paramount agreed to abide by temporary film quotas and a news oversight committee, avoiding a forced sale of cable assets such as CNN or any of its lucrative film franchises. The settlement delighted Warner Bros shareholders, but drew criticism from opponents of the merger who say it will hurt Hollywood jobs. The Writers Guild of America settled its parallel case against Paramount, while saying it still believes the deal will damage the industry. The states' settlement forced the union to "contend with the reality of forging ahead alone, with no backing from government enforcers" in a complex case that would have cost millions of dollars. California Attorney General Rob Bonta called the settlement "a strong antitrust outcome." "More production, more choice, and guardrails that keep this industry competitive....
Read full articleMore News
Boots has a new owner: Three ways it could affect you
The stalwart of Britain's High Street has been sold to a Canadian billionaire family. What will that mean for you?
Big Controversy Upends a Contest About Microscopic Videos
Nikon announced that it had disqualified the winner of its Small World in Motion competition over how A.I. was used in his submission.
Analysis: Trump's shock Russia deal highlights mounting pressure to curb fuel prices
The US president hopes to ease his party's pain before next month's midterm elections, writes the BBC's North America correspondent.
Trump Announces White House Inquiry Into Fed Governor Lisa Cook
President Trump said the White House would investigate unsubstantiated claims that Lisa D. Cook committed mortgage fraud and hold a hearing next month.
Private Medicare Plans Are Raising Costs And Forcing Millions To Find New Insurance
As enrollment for Medicare Advantage begins this month, older Americans are confronting fewer options because insurers are discontinuing coverage in many areas.
Trump wants to reduce the cost of fuel as the midterms loom - will it work?
The price of fuel has soared as the cost of living emerges as a key issue for millions of Americans.
Target Says It’s Not Working With ICE Amid Uproar Over Parking Lot Use
The retailer came under attack for being a staging area for immigration officers after Thursday’s shooting in New York City.
China and Europe Step Back From Trade War With Limits on Chinese Car Exports
The European Union said the deal could roughly halve shipments of hybrid vehicles from China in the next four years. But it also could lead to an even stronger Chinese auto industry.
How Correspondent Banking Can Enable Sanctions Evasion
The correspondent system for banking has enabled globalism — and has been exploited by companies trying to skirt U.S. sanctions.
Trump Sends Obamacare ‘Refund’ Checks Ahead of Midterm Elections
The $500 checks are accompanied by a letter signed by the president that criticizes the Biden administration for overcharging Americans for health insurance.
Burnham promises to curb non-compete rules in job contracts
The prime minister says restrictions on what workers can do after leaving roles have "gone too far".