12 Democratic AGs drop effort to block Paramount's $110 million Warner Bros. Discovery deal

David Ellison's Skydance Media has cleared legal hurdles to acquire Warner Bros. Discovery, including CNN, for $110 billion. The deal is expected to close in early October, with Ellison overseeing an 'independence board' for editorial control. CNN staff reportedly fear a shift in editorial direction similar to CBS News' rebranding under Ellison's leadership.

Paramount Skydance's $110B acquisition of Warner Bros. Discovery has been approved after settling lawsuits with California and 11 other states. The deal, financed partly by foreign sovereign wealth funds, will create a major entertainment company, according to the New York Times. California's attorney general emphasized the settlement is not an endorsement of the merger.

Paramount's $110B acquisition of Warner Bros. Discovery is set to close in two weeks, combining major media assets under David Ellison's oversight. The merged entity will include CBS, CNN, Paramount Pictures, Warner Bros., HBO Max, Paramount+, and sports networks. The Ellison family also holds a stake in TikTok through Oracle. The deal will create a vast media portfolio spanning news, film, streaming, and sports.

Paramount has settled with US states, clearing its takeover of Warner Bros. Discovery. The deal, valued at $24B, includes assets like Warner Bros. Pictures, CNN, and HBO Max. Safeguards include a board for CNN's independence and film production commitments.

The merger between Skydance-Paramount and Warner Brothers has received final approval from state attorneys general, including California. The deal includes provisions for $300 million in additional domestic film production and maintaining studio lots in Hollywood. An editorial independence board will oversee CBS News and CNN. Concerns remain about production costs and potential job losses in California.

CNN, MSNBC, and Politico are suing the Trump administration over a ban on their journalists from the White House. A settlement allows Paramount to merge with CNN's parent company, WBD. Analyst Brian Stelter discusses the potential impact on newsroom independence.