00:00Several attorneys general and labor unions filed suit against the merger, saying it would cost jobs.
00:04But after a settlement, the deal is now complete.
00:06The merger was made official this morning and ushers in a new giant Hollywood studio with the new name simply
00:12Skydance.
00:13The new company now owns not only Paramount, Paramount Plus and Warner Brothers, but also HBO Max, CBS and CNN.
00:20We've got a series of statutes dating back to the 19th century that basically represent the idea that competition is
00:27good for consumers.
00:28If you've got a bunch of hamburger restaurants on the street, the price will go down.
00:33You'll have more options here.
00:35We've got CNN on the one hand and CBS News on the other now becoming one newer news organization.
00:42We have Paramount and Warner Brothers, two different movie companies becoming one big company.
00:49The case settled.
00:50It did not go to trial and it settled with a bunch of considerations or restraints, including an independent board.
00:56But that independent oversight board is appointed by Paramount.
01:00It included things to protect employees.
01:03But the arguments these plaintiffs made was like this was basically these things that are in place aren't going to
01:09actually help keep prices down and keep competition up and give lots of options for people.
01:15But the reason why is that is so important is that people are not going to be able to get
01:15people to get people to get people to get people to get people to get people to get people to
01:15get people to get people to get people to get people to get people to get people to get people
01:15to get people to get people to get people to get people to get people to get people to get
01:15people to get people to get people to get people to get people to get people to get people to
01:15get people to get people to get people to get people to get people to get people to get people
01:15to get people to get people to get people to get people to get people to get people to get
01:15people to get people to get people to get people to get people to get people to get people to
01:15get people to get people to get people to get people to get people to get people to get people
01:15to get people to get people to get people to get people to get people to get people to get
01:15people to get people to get people to get people to get people to get people to get people to
01:15get
