Judge Clears Paramount-WBD Merger

A federal judge approved Paramount Skydance’s settlement with 12 state attorneys general, clearing the last legal hurdle for its planned merger with Warner Bros. Discovery. Hours later, Paramount said Mattel CEO Ynon Kreiz will join the combined company as co-CEO with David Ellison on Oct. 5. The merger would put Paramount Pictures, Warner Bros., Paramount+, HBO Max, CBS, CNN and major cable brands under one owner. State attorneys general had sued, saying the deal would reduce consumer choice, while Paramount said the settlement resolved those concerns. The judge called the consent decree fair and procedurally sound. Paramount expects to close in early October.