US judge accepts Paramount’s Warner Bros buyout settlement

LOS ANGELES, United States (AFP)—A federal judge on Wednesday approved a settlement between Paramount and a group of US states that clears the way for its takeover of Warner Bros. Discovery creating a Hollywood empire spanning television, news and cinema.

Judge Araceli Martinez-Olguin of California signed the consent decree, binding the concessions that Paramount offered to end an antitrust challenge brought by 12 states. The commitments run for five years and the court will have the power to enforce them.

Paramount, which is run by David Ellison, whose ultra-wealthy family has ties to US President Donald Trump, won a bidding war against Netflix in February for control of a stable of assets that includes Warner Bros. Pictures, CNN and the HBO Max streaming service.