Federal judge approves Paramount deal to acquire Warner Bros Discovery
A federal judge in the United States signed a consent decree on Wednesday allowing Paramount to complete its $111 billion acquisition of Warner Bros Discovery.
Settlement terms for film releases
The agreement requires the combined company to release at least 30 theatrical films annually for the first two years. This number will increase to 32 films per year for the following three years. The parties must also maintain specific numbers of wide and independent releases.
Distribution windows and penalties
The merged entity must keep a 45-day theatrical window and a 90-day SVOD holdback for qualifying films. A penalty of $30 million per film applies if the annual quota is missed. Divestiture of Paramount's stake in Miramax is possible if the shortfall remains unaddressed.
Independent board creation
The settlement includes the creation of a five-member independent board to oversee basic-cable negotiations. This structure separates Paramount and Warner Bros basic-cable negotiations from other business operations.
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