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TL
Coffee Break: Ellison Empire Beseiged On All Fronts
['Yves Smith', 'Nat Wilson Turner', 'View All Posts Nat Wilson Turner', 'Lou Strong', 'Clever Dog']
naked capitalism
Lawsuits Freeze DealFrom the Hollywood Reporter on July 24th:Paramount has agreed not to close its $111 billion takeover of Warner Bros.
On July 15 Paramount answered by, per the LA Times:Paramount Skydance has prevailed in its first court move to defend its Warner Bros.
“:The lawsuit by California’s Rob Bonta and 11 other state attorneys general to block the acquisition of Warner Bros.
Bloomberg quantifies the financial stakes:Larry Ellison and his family would be on the hook for $9.8 billion if Paramount Skydance Corp.’s deal to buy Warner Bros.
In February, Paramount paid $2.8 billion to Netflix Inc. to get the streaming company to abandon its pursuit of Warner Bros.