Paramount Global 'A'

Paramount agreed in a settlement with 12 states over its $110 billion merger with Warner Bros. Discovery to spend at least $300 million more on US film and TV production and to release at least 30 films annually initially, rising to 32 in later years. If it fails to meet the targets in the first two years it must pay $30 million per missed film into union-managed funds, and repeated shortfalls could force sale of its 49% stake in Miramax. The obligations last five years and allow Paramount/WBD to meet quotas via acquisitions or low-budget titles, making it likely the company will aim for minimum compliance rather than substantially expand internal production. » More on theverge.com

Paramount agreed with several US states to conditions including higher investments in the US and a new editorial oversight board for CNN and CBS News to head off a suit against the more than $110 billion takeover of Warner Brothers. The company also committed to a minimum production of 30 to 32 theatrical films annually for the first five years. The Screenwriters Guild withdrew its lawsuit after Paramount pledged $17.5 million to a health fund. The EU approved the deal on the condition that Paramount separate its theatrical distribution arrangements from Universal, while the US Department of Justice saw no competition concerns. Paramount faces time pressure from potential contractual penalties of $7 million per day that could become due from October if the takeover is not completed. » More on t-online.de

Paramount has agreed to concessions with California regulators and other states for its planned takeover of Warner Bros, valued at more than $110 billion. The deal requires the merged company to invest an additional $300 million annually in U.S. employees for five years and to establish an editorial oversight board for CNN and CBS News. Paramount also committed to releasing at least 30 films per year in the first two years (with a $30 million penalty for each missed film) and 32 films per year in the following three years; $17.5 million will go into a health fund for screenwriters. Paramount is under time pressure because starting in October fees of $7 million per day will apply if the takeover is not completed by then. » More on finanzen.net