WB Selling Assets to Paramount; DOJ Approves of Merger



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Under the merger agreement, if the deal does not close by the end of the third quarter, the consideration increases by 25 cents per share for each additional quarter before approval. This, Stelter pointed out, would add roughly $627 million every three months, or about $7 million per day, to the overall cost.
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A federal judge has scheduled a hearing for Friday for 10 AM Pacific on an emergency request from a coalition of 12 States seeking to block Paramount’s proposed merger with AEW broadcast partner Warner Bros. Discovery.

The States are asking the court to issue a temporary restraining order (TRO) that would pause the transaction while their antitrust lawsuit moves forward.

Paramount has been ordered to file its opposition to potential TRO by 12 Pacific this Thursday, the day before the hearing.

The Department of Justice has already cleared the planned merger.
 
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FCC Officials Took Pricey Gifts From Paramount as the Company Needed Approval for Billion-Dollar Deals

Accepting tickets to the Kennedy Center honors gala compromised the commissioners’ impartiality, ethics experts told ProPublica. FCC Chair Brendan Carr has been gifted at least $63,000 worth of tickets by CBS or its parent company.
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Reporting Highlights​

  • Expensive Gifts: Despite regulating broadcast media, FCC commissioners have accepted pricey tickets to the Kennedy Center honors gala from CBS or its parent company, now Paramount.
  • Conflict of Interest: Ethics experts say that by accepting the gifts, FCC commissioners are compromising the agency’s impartiality and should avoid acting on Paramount’s pending merger.
  • Mixing Business and Pleasure: After voting for a Paramount merger, Commissioner Olivia Trusty took tickets worth over $12,000. FCC Chair Brendan Carr has accepted tickets worth at least $63,000.
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