Paramount Skydance Corporation (NASDAQ: PSKY) has completed all necessary regulatory clearances to finalize its acquisition of Warner Bros. Discovery, Inc. (NASDAQ: WBD).
The company is now poised to proceed with the merger, having addressed all legal prerequisites.
Paramount has called on 12 State Attorneys General to engage constructively to resolve ongoing litigation, aiming to facilitate the merger process.
The acquisition is expected to enhance Paramount's market position and expand its entertainment portfolio.
The merger will bring together two major players in the entertainment industry, potentially leading to significant synergies and growth opportunities.
Paramount remains committed to working collaboratively with all stakeholders to ensure a smooth transition and integration.
"We are grateful that competition authorities in nearly 70 jurisdictions worldwide have independently and thoroughly reviewed this transaction and reached the same conclusion: it is pro-competitive, pro-consumer and pro-worker," said David Ellison, CEO of Paramount. "Despite this overwhelming global consensus, the litigation brought by the State of California and 11 other State AGs remains the final obstacle to completing a combination that will create a stronger competitor with greater capacity to invest in premium content, support creative talent and workers, and deliver more high-quality entertainment to audiences."