Paramount completed its acquisition of Warner Bros Discover on Tuesday, after a bidding war against Netflix. The deal closed following federal approval of a settlement between Paramount and 12 US states that tried to block the transaction on antitrust grounds. Opponents in the movie industry warned of job cuts, while media groups said Warner-owned CNN's independence could be compromised.
Paramount completed on Tuesday its takeover of Warner Bros Discovery, uniting two of Hollywood's most storied studios in a media empire spanning television, news and cinema under the control of David Ellison.