US judge clears $110bn Paramount–Warner Bros merger; deal expected to close on 6 October

US District Judge Araceli Martinez-Olguin on Wednesday (30 September) approved the settlement between Paramount Skydance (PSKY.O) and a California-led group of states, clearing its $110 billion acquisition of Warner Bros Discovery and ending a monthslong legal holdup. Reuters

The judge ruled it a “fair, reasonable, and good faith approach to address the competitive harms” alleged by the states, which sued in July alleging harm to competition in film and television — a challenge Paramount called the last hurdle before closing. AP The companies said late Wednesday the deal is expected to close on 6 October. Straits Times

The settlement requires at least 30 US theatrical releases a year for five years, plus an extra US$300 million a year in US production spending — missing it could force a sale of Miramax — alongside separate basic cable negotiations for both companies and a board of journalists overseeing CBS News and CNN. Straits Times A Writers Guild of America suit also settled: US$17.5 million to the guild’s health fund and WGA staffing at CBS News kept for five years. The judge rejected objectors’ hopes the decree would “reach farther – to achieve more”, ruling they “do not rise to the level of legal violations”. Straits Times

Shortly after, Paramount named Mattel chief Ynon Kreiz co-CEO alongside David Ellison from closing; Kreiz joins Paramount on 5 October to run day-to-day operations and integration. AP The ruling follows the judge’s 24 September refusal to approve without further answers — see our earlier story.