All posts tagged: ParamountWarner

Paramount-Warner Bros. Merger Will Threaten .78B in Economic Value

Paramount-Warner Bros. Merger Will Threaten $2.78B in Economic Value

Published by Daniella Wilson

As the public perception battle over Paramount‘s attempt to seal its deal for Warner Bros. Discovery hits a fever pitch, the historic home of Hollywood — Los Angeles County — is throwing fuel on the fire. The County’s department that has been studying the potential cost of the $111 billion deal to local workers and businesses is out with its latest report of the financial impact if Paramount mogul David Ellison’s merger closes. Thousands of jobs are directly at risk as a result of the transaction across corporate, creative and production workforces, according to the Aug. 18 study from the L.A. Department of Economic Opportunity and CVL Economics, which was presented to the County‘s board of supervisors. While corporate workers could be impacted by layoffs aimed at cutting down on debt load and redundancies, the report notes, professionals like writers, producers and crew members could also become casualties of a smaller slate of projects at a combined company. The report counted employment through the metric of “job-years,“ or a single job being performed over one …

Court Extends Order Pausing Paramount-Warner Bros. Merger

Court Extends Order Pausing Paramount-Warner Bros. Merger

Published by Daniella Wilson

Paramount won’t be able to close its $111 billion takeover of Warner Bros. Discovery until Aug. 18 at the earliest, with the court extending the temporary restraining order another 14 days. U.S. District Judge Araceli Martínez-Olguín issued the extension to allow lawyers for the studio and the states looking to block the deal to come to an agreement on the schedule and format for legal proceedings on a preliminary injunction, which would freeze the transaction until the case is decided if granted. The states alleged that the acquisition will substantially throttle competition in wide-release and top-grossing theatrical distribution and cable licensing in violation of antitrust laws. Separately, the Writers Guild of America filed a lawsuit claiming that the merger will result in lower compensation and worse deal terms. The court on Monday granted the states’ bid to pause the deal. Legal jockeying followed, with Paramount urging the court to hold a three-day evidentiary hearing next month. That would allow it to “address critical factual issues involving market definition, real-world competitive dynamics, barriers to expansion, and …

Court ruling freezes Paramount-Warner Bros. merger for now : NPR

Court ruling freezes Paramount-Warner Bros. merger for now : NPR

Published by Sam Flores

Paramount’s owners had hoped to seal a deal to buy Hollywood rival Warner Bros. this week. But on Monday, U.S. District Judge Araceli Martínez-Olguín granted a temporary restraining order pausing the acquisition. SOPA Images/LightRocket via Getty Images hide caption toggle caption SOPA Images/LightRocket via Getty Images Sign up for NPR’s Up First morning newsletter for the stories you need to start your day. Paramount’s owners were planning to have secured firm control of Hollywood rival Warner Bros. Discovery by the end of this week in a blockbuster deal that has the blessing of President Trump’s Justice Department. A federal judge has instead ground the process to a halt, at least for now. And her ruling on Monday in response to a lawsuit filed a week ago by a dozen states suggests Paramount may have some tough sledding ahead in order to get the deal through. In the ruling, U.S. District Judge Araceli Martínez-Olguín granted a 14-day temporary restraining order to pause the acquisition. The Democratic attorneys general allege that Paramount’s purchase of Warner Bros. would reduce competition, …

Paramount-Warner Bros merger temporarily halted by federal judge

Paramount-Warner Bros merger temporarily halted by federal judge

Published by Daniella Wilson

Get the latest entertainment news, reviews and star-studded interviews with our Independent Culture email Get the latest entertainment news with our free Culture newsletter Get the latest entertainment news with our free Culture newsletter A federal judge has temporarily halted the proposed $81 billion merger between Paramount and Warner Bros. Discovery, granting a two-week reprieve to states challenging the deal in court. The ruling follows a lawsuit filed last week by twelve states, led by California. They contend that the combination would “extinguish competition” within Hollywood, ultimately limiting choices for consumers, particularly moviegoers and cable subscribers across the United States. Prosecutors from the challenging states had initially urged Warner and Paramount to delay closing the transaction until a court could “fully evaluate” their claims. Following the companies’ refusal, the states sought a temporary restraining order, which District Judge Araceli Martínez-Olguín approved on Monday. This judicial intervention now paves the way for a potential preliminary injunction, a further measure the states are pursuing to effectively block the merger. California’s attorney general filed the multi-state lawsuit with …

Disneyland ticket deals, and the latest with Paramount-Warner Bros.

Disneyland ticket deals, and the latest with Paramount-Warner Bros.

Published by Sam Flores

In less than a week, Disneyland Resort rolled out two limited-time ticket deals — a $59 evening ticket and a special rate for Anaheim residents. The offers sparked speculation online that something was amiss at the Happiest Place on Earth. Why the seemingly sudden discounts? I spoke with analysts and theme park experts about what might be going on. In short, there’s probably no “material drop” in attendance at Disneyland Resort’s two parks, said Len Testa, president of theme park travel site TouringPlans.com. If that were the case, we’d probably see discounts on one and two-day tickets for the general public, not offers for partial-day attendance or deals limited to nearby residents. Larger price cuts would be a sign that “something needs fixing,” he said. “And we’re not there yet.” After all, data show that wait times at Disneyland appear to be stable compared with last year, and Anaheim was expected to haul in 3.8% more in tourism taxes compared with fiscal year 2025, Testa said. Disney does not disclose attendance figures, but the Themed …

An attack on “every sofa in the US”: States sue to block Paramount-Warner Bros. merger

An attack on “every sofa in the US”: States sue to block Paramount-Warner Bros. merger

Published by Sam Flores

12 states sued to block a proposed merger between Paramount Skydance and Warner Bros. Discovery. Led by California Attorney General Rob Bonta, the lawsuit filed on Monday accuses the deal between the two mega-studios and streaming giants of violating antitrust law. Bonta said the the $110 billion purchase of Warner Bros. by Paramount would leave the resulting company with control of nearly a third of all movie production and cable television programming in the United States. California was joined in the suit by 11 other states, all of which have a Democrat serving as attorney general. “The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors and, ultimately, audiences on every sofa and movie theater seat in the U.S.,” Bonta shared in a statement. Paramount representatives accused the AGs of being “wrong on both the facts and the law” in a statement. The spokesperson claimed that any hold-up to the proposed merger would “only harm entertainment workers …

States sue to stop Paramount-Warner Bros blockbuster merger : NPR

States sue to stop Paramount-Warner Bros blockbuster merger : NPR

Published by Sam Flores

California Attorney General Rob Bonta is one of several attorneys general seeking to stop the merger of Paramount and Warner Bros. Discovery. Bloomberg via Getty Images/Bloomberg hide caption toggle caption Bloomberg via Getty Images/Bloomberg Stay up to date with our Up First newsletter, sent every weekday morning. A dozen states, led by California, are suing to block Paramount from buying Warner Bros. Discovery in a Hollywood mega-merger that would unite some of the nation’s largest movie studios, television newsrooms, and other entertainment properties. “The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the U.S.,” California Attorney General Rob Bonta said in a statement announcing the suit, which was filed in federal court in California’s Northern District. Paramount accused the attorneys general of getting both the facts and antitrust law wrong, and warned that the lawsuit would bring its own pain. “Delaying this transaction will only harm entertainment …

CNN Staff Wary of Bari Weiss Oversight in Paramount-Warner Bros. Merger

CNN Staff Wary of Bari Weiss Oversight in Paramount-Warner Bros. Merger

Published by Daniella Wilson

As Paramount‘s $111 billion takeover of Warner Bros. Discovery gets closer to being completed, CNN is getting ready for what the merger will mean for the media company. Warner Bros. is CNN’s parent company, meaning the news property will be a major part of the acquisition alongside other assets including HBO, the Warner Bros.’ movie studio and more. This has left CNN staffers uncertain about the company’s future given shifts that David Ellison has implemented at CBS News. After closing Skydance’s $8 billion deal for Paramount Global last summer, Ellison appointed Bari Weiss editor-in-chief of CBS News, which has led to many shifts. Most recently, Weiss ignited a major overhaul of 60 Minutes, which saw Nick Bilton named the show’s new executive producer, terminating exec producer Tanya Simon while many correspondents and producers were also fired. Scott Pelley has been the most vocal of those terminated from 60 Minutes, as he was fired after a fiery meeting with Bilton, where he claimed Weiss is “murdering 60 Minutes. She does not love this place; she was brought in to kill …

The Paramount–Warner Bros. Merger Is Just a Band-Aid

The Paramount–Warner Bros. Merger Is Just a Band-Aid

Published by Daniella Wilson

In the fall of 1929, the Paramount Famous Lasky Corporation, then the most successful film company in America, seemed poised to buy Warner Brothers Pictures Inc. The latter was smaller and newer, but it had already become a lucrative commodity, having recently bought Vitagraph, an even tinier studio that operated cutting-edge sound technology. But in October came the stock-market crash, and with it a world of potential complication; among other hurdles, the executives involved were left waiting around for the Federal Trade Commission to approve the deal. “The merger is definitely off,” Albert Warner, a co-founder of Warner Bros., said at the time, “and will not be resumed again.” Almost a century later, the companies now known as Paramount Skydance and Warner Bros. Discovery are engaged in yet another potential merger. But unlike in the 1920s, when consolidations swept Hollywood during a boom in production, the companies today appear to be treating the move as something of a last resort—a consequence of an uncertain decade marked by the coronavirus pandemic, multiple industry strikes, a drop …

Paramount-Warner Brothers merger gets Justice Department approval : NPR

Paramount-Warner Brothers merger gets Justice Department approval : NPR

Published by Sam Flores

The Justice Department closed its investigation into the proposed $110 billion merger of Paramount and Warner Brothers Discovery, saying it found no threat to competition or consumers. AILSA CHANG, HOST: Hollywood giant Paramount is poised to get a whole lot bigger, like a tuna that swallowed a whale. The company’s proposed $111 billion takeover of Warner Bros. Discovery just got a green light from the U.S. Justice Department. Now, this deal would put all under the same roof – Paramount Pictures and Warner Bros. Studios, HBO and Paramount Plus and CBS and CNN. To lay everything out for us, we’re joined now by NPR media correspondent David Folkenflik. Hi, David. DAVID FOLKENFLIK, BYLINE: Hey, Ailsa. CHANG: OK, so it seems like there’s a lot of combining of similar properties here. Like, what exactly did the Justice Department say in announcing this decision? FOLKENFLIK: Well, the Justice Department put out a statement late this afternoon that NPR obtained and reviewed, and it said that it had conducted an intensive eight-month review of this, looking at this …