Deals & M&A
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The Ledger: Say Hello to Our Finance-Focused Newsletter
Welcome to TheWrap’s cheat sheet on what investors in media and entertainment are thinking about and where the money is flowing
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Business
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Paramount Hit With Lawsuit From Subscribers Seeking to Block Warner Merger
“We are aware of the private action filed today in federal district court and are confident that it is without merit,” a spokesperson for Paramount Skydance says
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Sinclair CEO Calls State AG Case Against Nexstar-Tegna Merger ‘Flimsy’
Chris Ripley also warns that moving major live sporting events behind streaming paywalls “erodes” appointment viewing for audiences
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Deals & M&A
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Warner Bros. Discovery CFO Gunnar Wiedenfels Renews Contract Through April 2028
The new deal will kick in on July 11, with the executive set to receive an annual base salary of $2.5 million
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Universal Music Group to Sell Half of Its Spotify Stake, Increase Share Buybacks
The moves come after Bill Ackman’s Pershing Square submitted a $64.4 billion takeover bid for the company
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David Ellison Attends Trump-Hosted State Dinner for King Charles III
The Paramount Skydance CEO’s presence at the White House event comes a day after his company asked the FCC to approve Middle East investment in the Warner Bros. merger
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Paramount Asks FCC to Approve Middle East Investment in Warner Bros. Merger
The media giant’s petition notes that indirect foreign ownership of equity interests in Paramount will total 49.5% and will not result in a transfer of control
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iHeartMedia in Talks to Merge With SiriusXM
The combination, facilitated by Irving Azoff, would create a satellite and terrestrial radio giant with some of the biggest names in the podcast world
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WBD Shareholder Vote Shows ‘Cracks in Their Armor’ Over Paramount, Block the Merger Group Says: ‘Not a Done Deal’
The Future Film Coalition’s open letter topped 4,000 industry signatures Thursday, including Robert De Niro and Sofia Coppola
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Warner Bros. Shareholders Sign Off on $110 Billion Paramount Deal. Now the Fight Begins | Analysis
The deal must still make its way through regulators in the U.S. and overseas, with state attorneys general weighing legal action
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Business
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Jane Fonda Committee Condemns WBD Merger Shareholder Approval: ‘This Fight Is Far From Over’
“A handful of powerful decision-makers should not be allowed to quietly reshape American media, culture and creative life without accountability,” the Committee for the First Amendment says
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Warner Bros. Shareholders Approve Paramount Merger
The $110 billion deal, which is expected to close by the third quarter, remains subject to regulatory approval
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Film and TV Workers Hold ‘Block the Merger’ Rally at Warner Bros. Ahead of Shareholder Vote
Jane Fonda’s Committee for the First Amendment protests the WBD-Paramount merger at the New York headquarters as the list of entertainment industry signatories crosses 4,000
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Mamdani Urges Warner Bros. Shareholders to Vote ‘No’ on Paramount Merger: ‘Thousands of Jobs at Risk’
“This merger is bad for New Yorkers three times over,” the New York City mayor says
