Movie studio Paramount on Monday agreed to settle an antitrust lawsuit filed by 12 states, the final major obstacle blocking its $81 billion acquisition of Warner Bros. Discovery. Under the agreement, Paramount commits to investing $1.5 billion over five years in domestic film production and producing at least 30 films annually for the first two years. The studio also agreed to create a $47.5 million fund for laid-off workers and establish a board to ensure editorial independence at CNN and CBS. Analysts however warn that the merger will likely reduce competition in the industry and lead to higher prices for consumers.
Source: Read the original article
