Deals & M&A
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Paramount Slams Lawsuit to Block Warner Bros. Merger: ‘Misguided Attempt to Politicize Antitrust Law’
The media giant has asked that a California court dismiss the legal action
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Bari Weiss Wanted to Modernize ‘60 Minutes.’ Instead, She May Have Killed It | Analysis
With the blow-up from Scott Pelley’s firing, Weiss continues to squander the storied news program’s biggest asset: public trust
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Business
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Bill Ackman’s Pershing Square Looks to Sell UMG Stake After Rejected Takeover Bid | Report
The firm is looking to sell roughly 80.6 million shares at €17.66 to €18.62 apiece, according to Bloomberg
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Paramount Chief Lawyer Slams ‘Fear-Mongering’ Warner Bros. Merger Critics
Makan Delrahim alleges “antisemitic views” are motivating some of the merger’s opponents
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The Ledger: Roku on the Rise
Our weekly newsletter will bring you the insights that bridge Wall Street and Hollywood
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Business
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European Commission Aims to Wrap Paramount-Warner Bros. Merger Review in July
The update comes after the David Ellison-led media giant formally notified the EU about its $110 billion deal
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House Judiciary Committee Asks Roger Goodell to Testify on NFL’s Media Rights Deals
The June 10 hearing will examine the modern impact of the Sports Broadcasting Act of 1961
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Barry Diller Proposes $18 Billion Takeover of MGM Resorts
The billionaire’s People Incorporated already owns 26.1% of MGM’s outstanding common stock
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Universal Music Group Rejects $64 Billion Takeover Bid From Bill Ackman’s Pershing Square
The board says the proposal “fundamentally and materially undervalues UMG and will not deliver superior value creation”
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Paramount CEO David Ellison Meets With DOJ to Discuss $110 Billion Warner Bros. Merger
The deal is on track to close by the end of the third quarter, subject to regulatory approval
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‘Drag Race’ Star Peppermint Wishes RuPaul Would Speak Out Against Trump and Ellisons’ Media Takeover | Video
“They will try to either cut ‘Drag Race’ or use it as a tool to parrot what they want to say,” the reality TV star says
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Tegna Names Patrick Paolini CEO Amid Nexstar Merger Litigation
The former Fox Television Stations ad sales boss will take over the role starting June 1
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Democratic Senators Demand FCC’s Brendan Carr Conduct ‘Rigorous’ Review of Foreign Funding in Paramount-WBD Deal
“Paramount’s petition asks for an unprecedented degree of foreign control of U.S. broadcasting,” six Senate Democrats write
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Nexstar Slams Judge’s Injunction Pausing Tegna Merger in Expedited Appeal Request: ‘Inflicts Unrecoverable Harm’
“Worse still, it degrades the very assets it purports to protect,” the multimedia conglomerate argues
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S&P Global Will Lower Paramount’s Credit Rating Even More After Warner Bros. Merger
The firm expects the media giant’s leverage to remain elevated for the next two years and only start to improve in 2028
