Connexion
After months of industry and customer speculation, Paramount Skydance has shed some light on the future of the HBO Max and Paramount+ streaming services.
Paramount Skydance completed its acquisition of Warner Bros. Discovery (WBD) today, ending a monthslong saga that began when Netflix last year announced its own plans to buy WBD. Netflix scrapped those plans in February. Skydance is the name of the company created from the $111 billion merger.
In an announcement today, Skydance said that all of the direct-to-consumer streaming services it owns, including the Discovery+ service that Discovery Inc. (which merged with WarnerMedia in 2022 to create WBD) launched in 2021, “will unify into a single service over time.”
There was a call to boycott Disney last fall. The owner of the ABC network had taken Jimmy Kimmel Live! off the air over comments Kimmel made about responses to Charlie Kirk's murder, sending free speech proponents into a frenzy.
Those free speech proponents include me, who, as a reporter, has clear stakes in protecting that right. Although I was on board with halting support for a company I felt had acted wrongfully, truly boycotting Disney proved harder than I expected.
Canceling Disney+ was simple but threw a hefty wrench into my evening routine. I tend to end many weekdays laughing at comforting sitcom reruns and adult animation. I usually associate Disney with princesses, kids' movies, and, more recently, comic heroes. But Disney also owns Hulu, which exclusively streamed many of my favorite shows for unwinding at the time, like American Dad, Futurama, Living Single, Fresh Off the Boat, and It’s Always Sunny in Philadelphia.
Free speech and media advocacy groups urged a judge to block a California settlement with Paramount Skydance that would let the company finalize its $111 billion merger with Warner Bros. Discovery.
Twelve states led by California sued to block the deal in July and were able to delay it when US District Judge Araceli Martínez-Olguín ruled that Paramount combining with Warner Bros. would likely reduce competition substantially and violate antitrust laws. Despite that initial victory, California Attorney General Rob Bonta announced a settlement with Paramount earlier this week and the other states involved in the lawsuit signed on to the deal.
Martínez-Olguín must decide whether to approve the settlement. A coalition of free speech and media advocacy groups told the judge in a filing yesterday that the deal will give residents of the states that sued Paramount "virtually nothing." The filing was submitted by the Committee for the First Amendment, Free Press, Freedom of the Press Foundation, Future Film Coalition, and International Documentary Association.
California and Paramount Skydance have reportedly reached a settlement allowing the company to complete its $111 billion merger with Warner Bros. Discovery. The settlement, which will reportedly be announced later today, drew condemnation from Democrats and media advocates.
"The Paramount/Warner Brothers merger seems facially illegal, and the state AG lawsuit challenging it is very strong," Lina Khan, who chaired the Federal Trade Commission during the Biden administration, wrote yesterday. "It’s troubling to hear that the states may now settle for behavioral remedies, allowing the deal to go through subject to various promises from the firms. Behavioral remedies routinely fail, and the stakes here are particularly high given that a strong democracy requires open markets for sound journalism and creative expression."
After news of advanced settlement talks was reported over the weekend, Bloomberg reported today that Paramount reached an agreement with California and other states that sued to block the merger. "Settlement talks came to fruition over the weekend after four states that had opposed terms of a deal outlined with California conceded," Bloomberg wrote, citing a person familiar with the matter.
Paramount Skydance agreed to a longer-term delay of its $111 billion acquisition of Warner Bros. Discovery, preventing the companies from combining until after a judge rules on the merits of a case in which a dozen states challenged the legality of the merger.
Under a stipulation filed in court today, the states and companies agreed that the merger will not be completed and the firms will not integrate their operations until "five days after the merits determination in these matters," or on June 1, 2027, whichever is earlier. The delay was also agreed to by the Writers Guild of America, which filed its own lawsuit to block the merger. If there is no merits determination by June 1, the plaintiffs could seek a preliminary injunction to keep blocking the deal.
The agreement amounts to "a months-long halt" to the merger, New York Attorney General Letitia James' office said. “Halting this merger while our case proceeds is a critical victory in our efforts to uphold the law and protect the film and television industries," James said.
A federal judge today ordered Paramount Skydance and Warner Bros. Discovery to halt their $111 billion merger, handing an early win to states that sued to block the deal. The ruling granted a temporary restraining order prohibiting the firms from completing the merger and from consolidating their operations.
The temporary order is only in effect for 14 days, but it can be converted into a preliminary injunction that would prevent the merger from being completed until the case is resolved. The temporary restraining order can be extended past the 14-day period if more time is needed to rule on a preliminary injunction.
A group of 12 states led by California sued the companies last week in an attempt to block the deal, which had been approved by the Trump administration. The states say the merger will eliminate competition by combining two of the five major Hollywood movie studios, and two of the five major owners of basic cable TV channels.
The rich and famous who filed into the Kennedy Center’s opera house in December were there to enjoy one of the nation’s most exclusive celebrations of the performing arts: the center’s annual honors gala.
The black-tie event, hosted by President Donald Trump, prioritized tickets to people who donated more than $75,000 to the center. This year, it feted Hollywood icon Sylvester Stallone, the legendary glam rock band Kiss and the Grammy Award-winning disco pioneer Gloria Gaynor.
Among the attendees that evening were two lower-profile government officials whose regulatory decisions had been crucial to the future of the gala’s broadcast sponsor, CBS, and its parent company, Paramount.
A group of 12 states led by California sued Paramount Skydance and Warner Bros. Discovery today in an attempt to block a $111 billion merger that was greenlit by the Trump administration last month.
"The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the US," California Attorney General Rob Bonta said.
The merger would combine two of the largest movie studios and merge streaming service Paramount+ with HBO Max. Netflix previously had a deal to buy WBD's streaming and movie studios businesses, but Paramount succeeded in a hostile takeover bid helped along by support from the Trump administration.
The British government could intervene in the $111 billion takeover of Warner Bros. Discovery by Paramount Skydance, citing concerns around the need for a plurality of views in news as well as media ownership in the UK.
UK culture secretary Lisa Nandy said on Tuesday that she was “minded to intervene” in the deal, which would create one of the world’s largest media and entertainment groups.
The takeover would lead to WBD media franchises such as CNN, HBO, and Warner Bros. movies being added to Paramount’s stable of assets, which include CBS in the US and Channel 5 in the UK.
When the US Department of Justice approved Paramount Skydance's proposed acquisition of Warner Bros. Discovery on Friday, a DOJ press release said "a rigorous eight-month investigation led by the [Antitrust] Division’s career staff" showed that the $111 billion deal would not harm competition or American consumers.
But according to The Wall Street Journal, the DOJ career lawyers who led that investigation "were leaning toward recommending a lawsuit challenging it on the grounds that the combination of the two movie studios would be anticompetitive and violate antitrust law." DOJ senior leaders closed the investigation "before career staffers who were concerned about the acquisition had an opportunity to object, according to people familiar with the matter," the WSJ reported.
Commenting on the report that the decision to allow the deal surprised staff investigators, Sen. Elizabeth Warren (D-Mass.) wrote that "the American people need to know if this merger was approved as a political favor. This reeks of corruption."
Paramount Skydance is accusing Netflix of maintaining a campaign against its proposed acquisition of Warner Bros. Discovery (WBD).
In a June 5 letter (PDF) addressed to Jared A. Hughes, acting section chief of the Media, Entertainment, and Communications Section of the US Department of Justice's (DOJ's) Antitrust Division, and A. Maya Kahn, a trial attorney for the Antitrust Division, and first reported on by Politico today, Paramount chief legal officer Makan Delrahim accused Netflix of trying to influence stakeholders about the merger. The letter reads:
Indeed, Netflix’s panic-level response and scorched-earth campaign to try and poison regulators and other stakeholders against the Transaction shows just how seriously Netflix takes Paramount as a scaled competitor.
The letter from Delrahim, a former assistant attorney general for the Antitrust Division, is a response to a letter that The International Brotherhood of Teamsters sent to the DOJ in March. The teamsters' letter argued that Paramount and WBD's merger would threaten film and TV workers. The union, which has 1.3 million members, asked the DOJ to block the merger "unless substantial and enforceable safeguards are put in place to increase domestic production and protect jobs," per an announcement from the group.
When the action film Top Gun hit the big screen in 1986, critical reviews were mixed, but audiences were thrilled. The film racked up $358 million globally, making it the highest-grossing film of that year. Its success spawned a few video games and a critically acclaimed blockbuster 2022 sequel, Top Gun: Maverick, and the eye-popping flight sequences definitely boosted enlistment numbers for the US Navy. Those scenes are still the best thing about Top Gun, 40 years later.
(Spoilers below because it's been 40 years.)
The film was inspired by a 1983 article in California magazine detailing the lives of fighter pilots at Naval Air Station Miramar in San Diego (aka "Fightertown USA") and featuring plenty of aerial photography alongside the text. Producers Jerry Bruckheimer and Don Simpson tapped Jim Cash and Jack Epps Jr. to write the screenplay, with Epps sitting in on declassified classes at the academy and even taking a flight aboard an F-14.
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