TECH Signal 418
Paramount agrees to film quotas and oversight board for CNN and CBS
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California and 11 other states forced Paramount to settle with a $30 million penalty and production targets for its film releases
The deal aims to prevent a monopoly and protect editorial independence of news networks, while also increasing domestic film production spending
Written by elseif from the cluster below · every claim links back to a sourceThe three things worth knowing
Paramount agreed to produce 30 films per year for two years, increasing to 32 in the following three years
The studio must release at least 20% of its annual theatrical releases with budgets over $50 million
Paramount will also increase its annual spending on domestic film production by at least $300 million
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What the cluster adds up to.
Paramount agreed to settle with California and 11 other states after a federal district court granted a temporary restraining order blocking the merger
The deal includes a $30 million penalty, with 90% going to employees, and a new board for CBS News and CNN to ensure editorial independence
The agreement avoids a $7 million-a-day 'ticking fee' owed to Warner Bros. shareholders, and regulatory bodies in 65 countries had already approved the merger or chosen not to challenge it
Written by elseif from the cluster below · checked for specifics the sources never containedTHE CLUSTER