The EU probe on the Middle East wealth funds through its Foriegn Subsidies Regulation is still ongoing, though:
"The transaction is also being reviewed under the bloc’s foreign subsidies regulations, which are designed to prevent state-backed financial support from distorting competition in the EU."
Unclear if this is Skydance trying to pre-empitvely deny that separate review won't have hiccups:
"The deal is also being assessed in a separate proceeding under the EU Foreign Subsidies Regulation, because Saudi Arabia's Public Investment Fund, Abu Dhabi's L'imad Holding Company and the Qatar Investment Authority are bankrolling the bid. Paramount is expected to win unconditional approval for this."
The coalition of 10 Democratic & Republican state AGs will file their legal challenge within a month:
"Still, a coalition of states led by California wait in the wings to challenge the deal. A lawsuit, which will be joined by New York, Colorado, Oregon, Nevada, Washington, Connecticut and Tennessee, aiming to block the merger is expected to be filed within a month, a source familiar with the situation has told
The Hollywood Reporter."
Regulators in over a dozen countries have signed off on the deal.
www.hollywoodreporter.com
Other interesting tidbits from that NY Post article, including Skydance running out of stuff to name-call people with, lol:
"I am told the Ellisons are ready to play a long game in the courts and win on the merits. The delay, however, will be costly.
“They’re communists, so of course they will oppose this deal,” said one person close to Paramount. “In the end they will probably lose, but if they win, do you really think Warner won’t be cutting costs given what was happening before the deal?”"
And as a bonus, this is what Skydance's private equity partner, RedBird's Gerry Cardinale, had to say on CNN's fate:
"Breaker asked Cardinale what happens to CNN when the deal closes and if Bari Weiss should lead both CBS and CNN?
“Well, I'm not going to touch that. So what I will say to you is: what's going to happen to CNN is exactly what's going to happen to everything I've done for the last 37 years, which is: it's going to thrive, and we're going to figure it out,” the dealmaker said.
But hinting there may have been lessons learned from Bari Weiss’ “reign of error” heading up CBS News, Cardinale said his preference was to pump the brakes.
“I think one of the things, you know, I'm going to suggest that we do is we slow it down a bit, and we pace this out, and we just sort of get in there a bit and understand it and then figure out how we can add value,” Cardinale said.
“And so obviously, you know, all of these ecosystems need change. Now, change for change's sake is, is not the point; it's— but, you know, they're all getting disintermediated, and I think we've got to spend time really getting in there and listening and talking to them before we can figure out ultimately, you know, how we can help.”"
Mail Man Sacked; NY Post “Collectors Ed”; Breaker’s Doppelganger
www.breakermedia.com
nypost.com
puck.news
