Los Angeles, United States: Paramount has reached a settlement with a group of US states that clears the way for its takeover of Warner Bros. Discovery, US media reported Monday, creating a Hollywood behemoth spreading from television to cinema.
Paramount, which is run by David Ellison, whose family is closely allied with US President Donald Trump, launched the blockbuster bid for control of a stable of assets that includes Warner Bros. Pictures, CNN and the HBO Max streaming service.
The Trump administration had approved the blockbuster deal in June without demanding a change to its business, clearing the way for one of the largest media mergers in years before 12 individual US states sued to block the transaction.
