A California judge has cleared the way for the Paramount-Warner Bros merger by approving a settlement reached with California and several other states.
The ruling removes the final reported obstacle to Paramount’s proposed $111 billion takeover of Warner Bros, with the transaction potentially being completed within days or weeks.
Under the settlement, the merged company will establish an editorial board to oversee CBS News and CNN.
The agreement also requires the business to release at least 30 films each year and invest more than $1 billion in US film production and worker training.
If the deal goes ahead, CNN, CBS News, HBO Max, Paramount+, Warner Bros and Paramount Pictures will all come under the same corporate umbrella.
