MarketBeat51d agoneutral
Plot Twist: How the $110B Paramount-Warner Deal Rewrites MediaThe unprecedented federal clearance of the massive media merger transforms the entertainment sector and creates lucrative opportunities for modern investors.
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Quartz51d agoneutral
DOJ clears Paramount-Warner Bros. merger over staff objectionsCareer antitrust lawyers were leaning toward recommending a lawsuit when senior DOJ officials closed the investigation and cleared the $110 billion deal
The Wall Street Journal51d agoneutral
What’s News: Business & FinanceWHATS NEWS BUSINESS FINANCE Oil prices fell, bonds rallied and the Dow industrials closed at a record 51671.03 after Trump announced a deal to end the war with Iran and reopen the Strait of Hormuz. The Justice Department’s senior leadership closed an investigation of Paramount Skydance’s bid for Warner Bros.
The Wall Street Journal51d agoneutral
Justice Department Decision to Allow Paramount Deal Surprised Staff InvestigatorsDepartment staffers investigating the Warner acquisition were leaning toward recommending a challenge to the merger, people familiar with the matter say.
Barchart52d agoneutral
Stocks Set to Open Sharply Higher as Oil Sinks on U.S.-Iran Deal, Fed Meeting AwaitedJune S&P 500 E-Mini futures (ESM26) are up +1.22%, and June Nasdaq 100 E-Mini futures (NQM26) are up +1.99% this morning, pointing to a sharply higher open on Wall Street as oil prices sank after the U.S. and Iran reached an interim peace deal that would reopen the Strait of Hormuz.
Bloomberg52d agoneutral
Trump Hosts Brutal UFC Fights at White House for 80th Birthday(Bloomberg) -- Donald Trump will head to France for what will likely be contentious discussions with world leaders this week, but first he celebrated his 80th birthday by watching a sport that’s more brutal and bloody than politics. Most Read from BloombergIran Signals No Deal Will Be Signed by Trump’s Sunday TimelineWhy Musk Raced to Take SpaceX Public in the World’s Biggest IPOUS and Iran Agree to Deal Halting War That Shook Middle EastTrump Eyes Sunday Iran Deal But Tehran Says Still Reviewin
The Wall Street Journal53d agoneutral
Trump Bets on South Lawn UFC Spectacle to Energize His Political BaseSunday’s fights at the White House promise a violent show and a chance for the president to project power and reconnect with young men.
Reuters Videos54d agoneutralVIDEO
US Justice Department clears Paramount's acquisition of Warner Bros<body><p>STORY: The U.S. Justice Department's (DOJ) Antitrust Division said it has cleared Paramount Skydance Corp's planned acquisition of Warner Bros. Discovery.</p><p>It said the $110 billion transaction was unlikely to harm competition or consumers,</p><p>saying its impact "will be to increase competition across the media and entertainment ecosystem, with benefits for American consumers and workers."</p><p>Paramount thanked the DOJ for its review of the transaction.</p><p>It said the deal would allow the company to better compete in an industry defined by an intense scramble for audiences, talent, technology and investment.</p><p>Paramount CEO David Ellison's father, billionaire Oracle co-founder Larry Ellison, has cultivated ties with President Donald Trump.</p><p>Assistant Attorney General Omeed Assefi had said that politics would "absolutely not" drive the DOJ's review of the transaction.</p><p>The Federal Communications Commission has yet to approve Paramount's petition for foreign investors to own up to 100% of the deal's debt.</p><p>Several in Hollywood have expressed concern that the merger would result in fewer jobs and less diversity of storytelling.</p><p>Sources familiar with the matter told Reuters last week that California, New York and other U.S. states are preparing a lawsuit to block the deal.</p></body>
The Wall Street Journal54d agoneutral
Justice Department Clears Paramount-Warner Bros. Discovery DealThe Justice Department has cleared Paramount $81 billion purchase of Warner Bros. Discovery removing one hurdle for the entertainment companies’ megadeal. The department’s antitrust division said Friday that the merger would likely improve competition “across the media and entertainment ecosystem, with benefits for American consumers and workers.” The combination of Paramount and Warner stands to reshape the entertainment industry by putting two legacy movie and TV studios, as well as multiple news outlets, streaming platforms and cable networks under one roof.
Investing.com54d agoneutral
DOJ clears Paramount Skydance’s $110 billion Warner Bros. deal - reportThe unconditional clearance removes the primary federal regulatory hurdle standing between the two media giants and what would be one of the largest media combinations in history. Politico's report was corroborated by Newsmax and Quiver Quantitative, each also citing people familiar with the matter, though an official DOJ press release had not been published as of this writing.
Reuters54d agoneutral
Justice Department says Paramount's Warner deal wouldn't harm competitionJune 12 (Reuters) - The United States Justice Department said on Friday its antitrust division had completed a review of Paramount’s proposed acquisition of Warner Bros and determined it was not
LA Times54d agoneutral
Justice Dept. approves Paramount's acquisition of Warner Bros.As expected, the U.S. Justice Department gave its consent for the blockbuster merger expected to reshape Hollywood.
LA Times54d agoneutral
Paramount's $111-billion Warner Bros. acquisition clears key hurdleAs expected, the U.S. Justice Department gave its consent for the blockbuster merger expected to reshape Hollywood
Axios54d agoneutral
DOJ approves Paramount Skydance-Warner Bros. Discovery mergerThe Justice Department has approved Paramount Skydance's $110 billion takeover of Warner Bros. Discovery, as expected.
Bloomberg54d agoneutral
Paramount’s Deal for Warner Bros. Is Cleared by US DOJ(Bloomberg) -- The US Justice Department has closed its antitrust probe into Paramount Skydance Corp.’s $110 billion purchase of Warner Bros. Discovery Inc., according to people familiar with the decision.Most Read from BloombergSpaceX IPO Raises $75 Billion in Biggest Debut of All TimeUS, Iran Edge Toward Interim Deal Signing Close to G7 Next WeekXbox Plans Significant Layoffs as New CEO Plans OverhaulSpaceX Shares Close 19% Higher After Historic $75 Billion IPOTrump Insists Iran Deal Is Close
The Wall Street Journal61d agoneutral
Paramount Skydance to Launch Videogame StudioThe new Paramount Games Studio will be helmed by Tony Driscoll as president. The studio will roll together Skydance’s existing gaming outfits, Skydance Interactive and Skydance New Media.
Reuters61d agoneutral
California to decide soon whether it will seek to block Paramount dealBy Jody Godoy and Nathan Frandino June 5 (Reuters) - California Attorney General Rob Bonta will soon decide whether to sue to block Paramount's $110 billion acquisition of Warner Bros, he told Reuters
Reuters62d agoneutral
California to decide soon whether it will seek to block Paramount dealJune 5 (Reuters) - California Attorney General Rob Bonta will soon decide whether to sue to block Paramount's $110 billion acquisition of Warner Bros, he told Reuters in an interview, adding that in general he views any corporate promises to address antitrust concerns as better when backed up by potential divestitures. Bonta's office has been reviewing the deal for potential violations of U.
The Wall Street Journal63d agoneutral
The Meltdown Inside ‘60 Minutes’A wild week of firings and fireworks lays bare the challenges Bari Weiss faces in revamping CBS News and its flagship show.
The Wall Street Journal64d agoneutral
‘60 Minutes’ Correspondent Scott Pelley Fired by CBS NewsVeteran “60 Minutes” correspondent Scott Pelley was fired by CBS News, a day after taking aim at Editor in Chief Bari Weiss’s leadership during a staff meeting for the show. Executive Producer Nick Bilton sent a note to Pelley on Tuesday night saying he was being terminated for cause, effective immediately, according to a copy of the letter reviewed by The Wall Street Journal. Pelley interrupted Bilton soon after he started reading introductory remarks at the Monday meeting, according to people in attendance.
The Wall Street Journal65d agoneutral
‘60 Minutes’ Staff Meeting Turns Hostile for New Executive ProducerNick Bilton was greeted with open hostility from high-profile correspondent Scott Pelley, according to people at the gathering.
Bloomberg65d agoneutral
For Goldman’s Top Bankers, It’s All AI Data Centers All the Time(Bloomberg) -- For leveraged finance practitioners, artificial intelligence is the only game in town — especially in the absence of more debt deals to finance mergers and acquisitions.Most Read from BloombergUS Says Deals With Iran for Safe Hormuz Transit Are ProhibitedBerkshire Hathaway to Buy Taylor Morrison for $6.8 BillionA Rare ‘Super’ El Niño Is Looking More Likely. Here’s What to ExpectRussia Finance Officials Tell Putin War Spending Is UnaffordableStocks Up as Trump Cites Rapid Pace in I
TheStreet69d agoneutral
Paramount makes bold legal move for Warner Bros. dealParamount's (PSKY) largest Hollywood gamble is already under pressure. The company’s proposed $110 billion deal for Warner Bros. Discovery (WBD)merges two media powerhouses at a time when traditional entertainment firms are grappling with streaming losses, decreasing cable audiences, and growing ...
The Wall Street Journal69d agoneutral
Bari Weiss Overhauls ‘60 Minutes’ With New Executive ProducerThe CBS News program installed journalist Nick Bilton in the role and will part ways with current show leader Tanya Simon.
The Wall Street Journal70d agoneutral
CBS News Doesn’t Renew ‘60 Minutes’ Correspondent Sharyn Alfonsi’s ContractThe correspondent had criticized as political a decision by CBS News Editor in Chief Bari Weiss to hold a segment on an El Salvador prison.
Bloomberg71d agoneutral
Ellison Privately Vows to Keep Enlarged Paramount’s Debt in Line(Bloomberg) -- It began as a concession in private conversations to assuage wary credit analysts looking at Paramount Skydance Corp.’s blockbuster takeover of Warner Bros. Discovery Inc.: a verbal pledge by the Ellison family to do whatever it takes to slash debt at the combined company.Most Read from BloombergIran’s Khamenei Says No Going Back for Middle East Rocked by WarSingapore Hands Byju's Founder His First Ever Jail TermPutin Signs Law on Use of Army to Aid Russians Detained AbroadRussia
Bloomberg71d agoneutral
Warner Bros. Tightens $15 Billion Loan Price in Hot Debt Market(Bloomberg) -- Warner Bros. Discovery Inc. tightened pricing on its loan offering on Wednesday, a day after upsizing the deal to around $15 billion, as investor appetite for corporate credit allows borrowers to set favorable terms.Most Read from BloombergIran’s Khamenei Says No Going Back for Middle East Rocked by WarSingapore Hands Byju's Founder His First Ever Jail TermPutin Signs Law on Use of Army to Aid Russians Detained AbroadRussia Tells US to Evacuate Its Diplomats and Citizens From Kyiv
The Wall Street Journal72d agoneutral
States Flex Muscle on Antitrust Enforcement as Trump Administration Pulls BackWhen the Justice Department settled with Live Nation at the start of a long-awaited antitrust trial, it mounted a pressure campaign against a group of plaintiff states to demand that Republican attorneys general join the truce. Then-Attorney General Pam Bondi warned some of the GOP state officials that the deal was personal to President Trump, according to people familiar with the matter. Following the April jury verdict that found the company engaged in illegal monopolization, the states on Thursday asked a judge to impose sweeping changes on Live Nation, including forcing it to sell off its Ticketmaster subsidiary and some of the amphitheaters where it packs fans for summertime tours.