A federal judge approved the settlement allowing Paramount’s Warner Bros. acquisition to close on October 6. The companies also agreed to pay $17.5 million to the Writers Guild health fund and preserve staffing levels at CBS News for five years. Mattel CEO Ynon Kreiz will join Paramount and become co-CEO alongside David Ellison.
The merger combines two major entertainment and news organizations while pursuing more than $6 billion in savings. Kreiz’s success turning Barbie and other toy brands into entertainment franchises signals that Paramount wants to treat intellectual property as a system spanning films, television, games and merchandise.
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