Twelve states and Hollywood writers challenging Paramount’s buyout of Warner Bros. Discovery have agreed to settle their lawsuits against the mega merger. Monday's announcement effectively paves the way for the $81 billion deal to cross the finish line, with some new commitments. The blockbuster deal will bring together two of Hollywood’s oldest studios, key TV networks like CBS and CNN and streaming platforms HBO Max and Paramount+. It also will consolidate as decades-old libraries with titles ranging from “Harry Potter” to “Top Gun.” The agreement calls for Paramount to increase domestic production and establish monitoring of editorial independence of the company’s news operations. The settlement still needs a final sign-off by a judge.
AP source: Paramount reaches settlement with states that sued over its Warner buyout, clearing path for the mega merger.
U.S. Ski & Snowboard has withdrawn from a proposed strategic alliance that had been in the works with the U.S. Biathlon Association. The agreement had been set for a vote Wednesday in what would have been a rare merger between two Olympic sport organizations. Sophie Goldschmidt, the CEO of USSS, said in a statement that “inaccurate and harmful misinformation was spread about the alliance’s intent.” In a note to its members, U.S. Biathlon explained the board “has decided to pause consideration of the Alliance at this time.” The potential partnership had been in the works for months.
Oil giant Chevron is confirming that it is expanding its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation’s oil reserves and give the Pentagon a stake in the profits. Chevron said Wednesday that it has been assigned additional acreage in the Orinoco Belt, where the company has an established position. Joint venture plans include investing more than $7 billion over the next five years, more than doubling production to approximately 600,000 barrels a day compared with 2026.
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