Paramount settles with US states to clear Warner Bros mega-merger

LOS ANGELES, (United States): Paramount has reached a settlement with a group of US states that clears the way for its takeover of Warner Bros. Discovery, officials announced Monday, creating a Hollywood empire spanning television, news and cinema.

Paramount, which is run by David Ellison, whose ultra-wealthy family has ties to US President Donald Trump, won a bidding war against Netflix in February for control of a stable of assets that includes Warner Bros. Pictures, CNN and the HBO Max streaming service.

READ ALSO: Paramount will not close its Warner Bros deal before July 22 amid Oregon probe

The Trump administration approved the deal, one of the largest media mergers in years, in June without demanding a change to its business, before 12 US states sued to block the transaction.