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Broker flags KGEN turnaround as revenue set to surge to 25 billion baht after EV plant stake rises to 60%
Global Securities, or GBS, says King Gen Public Company Limited, or KGEN, is entering a turnaround phase, raising its stake in Omoda & Jaecoo Manufacturing (Thailand) Company Limited, which operates the electric vehicle plants for the OMODA JAECOO and CHERY brands, from the current 43.7% to 51% in early July, and then to 60% in late July to early August. This will shift revenue recognition from the share of profit of an associate to full consolidation of both revenue and profit. Management expects that after the stake increase, revenue will grow significantly year on year to 25 billion baht, with a net profit margin of 2.5-3.0%, or roughly 600-700 million baht. Previously, KGEN reported second-quarter 2026 profit of 37 million baht, up 171% quarter on quarter and 152% year on year, after losses in the first quarter of 2026 and the second quarter of 2025. The main driver was the share of profit from its investment in that associate, whose production line began operating on 20 April 2026, while revenue from sales and services grew to 227 million baht, up 8% quarter on quarter and 36% year on year. Bookings for JAECOO and OMODA electric vehicles at the Big Motor Sale 2026, held from 21-30 August 2026, totaled 5,028 units, with deliveries scheduled for September to October 2026, an additional factor supporting revenue and profit growth. The current share price still cannot be assigned a P/E ratio because the company has posted continuous losses from 2022 through the first six months of 2026, though earnings are expected to turn around from 2026 onward. The stock trades at a P/BV ratio of 2.58 times, above its one-year, two-year and three-year averages of 2.56, 2.30 and 2.10 times respectively.
KGEN.BK · Capital · Positive Broker flags KGEN turnaround as raising its stake in the EV plant to 60% shifts to full consolidation, lifting revenue to 25 billion baht and turning earnings positive.
Omoda & Jaecoo Manufacturing (Thailand) · Capital · Positive KGEN is raising its stake in Omoda & Jaecoo Manufacturing (Thailand) from 43.7% to 60%, shifting to full consolidation of the EV plant's revenue and profit.
Jaecoo (Chery Jaecoo Automobile) · Demand · Positive JAECOO and OMODA EV bookings at the Big Motor Sale 2026 totaled 5,028 units with deliveries in September-October 2026, supporting revenue growth.
Ellison's Oracle and Paramount Debt Binge Links Two Credits
Larry Ellison's dual role as backer of Paramount Skydance Corp. and controlling shareholder of Oracle Corp. is stirring concern on Wall Street as both companies pile on debt. Paramount took on $52 billion of additional debt this week to help pay for its acquisition of Warner Bros. Discovery Inc., while Oracle has nearly doubled its long-term debt to more than $160 billion over the past two years as it builds out AI computing capacity, making it the fifth-largest borrower in the US corporate bond market. The cost to insure the debt of both companies against default has converged and is increasingly moving in lock-step, a sign investors are beginning to treat the two credits as intertwined. Ellison, 82, is backstopping Paramount's takeover of Warner Bros., spearheaded by his son David, via a family trust that guaranteed a significant portion of the roughly $47 billion of equity financing for the deal, and the family pledged to take all necessary steps to bring leverage down in the coming years. His fortune has plummeted by almost $200 billion over the past year, though he is still worth roughly $192 billion, and he recently canceled a plan to sell billions of dollars worth of Oracle stock and disclosed he had increased the number of shares pledged as collateral for personal loans. S&P cut Oracle to BBB- in July and lowered Paramount's issuer credit rating to BB last month, and Oracle shares have fallen more than 50% over the past year.
ORCL · Capital · Negative Oracle's long-term debt nearly doubled to over $160B for AI capacity, S&P cut it to BBB-, and its credit risk is now intertwined with Paramount's, with shares down over 50%.
PSKY · Capital · Negative Paramount took on $52B of additional debt to fund the Warner Bros. acquisition, S&P cut its issuer credit rating to BB, and its default-insurance cost is converging with Oracle's.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target being bought by Paramount, but the article focuses on the buyer's debt burden rather than WBD's own credit impact.
Paramount Skydance has appointed longtime media executive Ynon Kreiz as Co-Chief Executive Officer and board member, with David Ellison remaining the principal executive officer and Chairman. The move lands days before the planned closing of the Warner Bros. Discovery acquisition and follows a multi billion dollar secured debt raise, setting up Kreiz to run day to day operations while Ellison concentrates on creative direction and capital allocation. The leadership shift comes as the stock has posted a 30 day share price return of down 13.4% and a 1 year total shareholder return of down 49.3%, with a roughly US$52b debt package reshaping the risk profile ahead of the Warner Bros. Discovery deal closing. Paramount Skydance now trades near US$9.50, and on the most followed narrative it screens modestly cheap with a fair value estimate of about $9.81. The company is pursuing global scaling of Paramount+ through premium content, sports such as UFC and Zuffa Boxing and South Park, and year round programming, alongside consolidation of Paramount+, Pluto and BET+ onto a single tech platform and an Oracle Fusion enterprise rollout aimed at reducing run rate costs toward the US$3b efficiency target.
PSKY · Capital · Neutral Appoints Ynon Kreiz as Co-CEO ahead of the Warner Bros. Discovery deal close and after a multi-billion-dollar debt raise, reshaping leadership and risk profile.
WBD · Capital · Neutral Its acquisition by Paramount Skydance is set to close days after the leadership change, but no new terms are given.
M6 Group Restructures Finance and Technology Divisions as CFO Jérôme Lefébure Departs
Groupe M6 is simplifying the organisation of its cross-functional departments to accelerate its strategic priorities, creating a new Finance, Technologies and Transformation division led by Henri de Fontaines. The new division brings together the Finance Department, led by Emmanuelle Marti following a transition period with Jérôme Lefébure; a new Technologies, Innovation and Streaming Department formed by merging M6+ with the Technologies and Innovation Department and co-led by Valéry Gerfaud and Constance Fouquet; the Legal Department under Nathalie-Camille Martin; the Transformation Department under Claire Michaux; the Strategy Department under Baptiste Capdevielle; and the General Services Department under Jean-Christophe Ricou. Jérôme Lefébure will leave the Group at the end of November 2026 after 23 years, 12 of them as a member of the Executive Board, having served as Group CFO and then Managing Director of Finance and Support Functions. Emmanuelle Marti joins on 5 October 2026 as Group Chief Financial Officer and a member of the Executive Committee, most recently serving as Chief Financial Officer of the RMC-BFM Group. Christophe Foglio leaves at the end of the year after 18 years as Director of Technological Resources, Human Resources Director and then Transformation Director, with Claire Michaux, Deputy Transformation Director since December 2025, succeeding him as head of the Transformation Department.
Paramount-Warner Bros. $110 Billion Merger to Create Skydance
The combined company formed by the $110 billion merger of Paramount and Warner Bros. will be named Skydance, Paramount CEO David Ellison announced. Ellison said the name was chosen to preserve the distinct identities and legacies of both Paramount and Warner Bros. while giving the combined company an identity of its own. Skydance is the production company Ellison founded in 2006 and merged with Paramount in 2025. On Wednesday, Paramount named Mattel CEO Ynon Kreiz as co-CEO of the new company alongside Ellison, and Bloomberg reported the merger is expected to be finalized next week. The press release announcing Kreiz said the combined company will be guided by four strategic priorities: winning in content, becoming the most technologically capable media company, maximizing operational efficiencies, and earning trust.
PSKY · Capital · Positive Paramount's $110 billion merger with Warner Bros. is expected to be finalized next week, creating the combined Skydance entity.
WBD · Capital · Positive Warner Bros. Discovery is being merged into the $110 billion combined company with Paramount, expected to close next week.
MAT · · Neutral Mattel CEO Ynon Kreiz named co-CEO of the merged Paramount-Warner Bros. company, but no impact on Mattel's own business is described.
Paramount-Warner Bros. Merger to Take Skydance Name, Ellison Says
The combined company formed by the merger of Paramount and Warner Bros. will be named Skydance, Skydance chief executive David Ellison said in a post on X. Ellison said the new name was chosen to preserve the identities and legacies of both studios while giving the combined company its own corporate identity. "Both have distinct identities, extraordinary legacies, and brands that have resonated with audiences for generations," Ellison said. "We never wanted a new corporate identity to diminish, alter, or overshadow either one." He said Paramount and Warner Bros. have together shaped more than a century of entertainment and culture, and that the combined company would seek to build on the strengths of both studios, with Skydance focusing on "bold, quality storytelling" as a "creative-first home" for filmmaking and other content. The combined company intends to give Paramount and Warner Bros. the opportunity to expand their audiences globally while benefiting from Skydance's scale and capabilities, Ellison added.
Global bond markets stumble as credit spreads hit widest in six months after flood of large deals
Global credit markets are starting to show signs of slowing, with the yield premium, or credit spread, on corporate bonds worldwide widening by about 5 basis points this week, the biggest increase since March, pushing spreads to their widest level in six months amid concerns over inflation and high interest rates. Data from Bloomberg indices showed early trading in Asian markets on Friday also signalled that selling pressure could continue, with traders saying yield premiums on investment-grade bonds rose by about 2 to 4 basis points. The weakness in credit markets contrasts with a better tone in US Treasuries after most Federal Reserve officials struck a more dovish stance. A surge in new bond supply is starting to weigh on the market, with large companies from Paramount Skydance to SoftBank Group raising funds through massive debt issuance. Paramount Skydance in particular issued 52 billion dollars of debt this week to fund the biggest acquisition in Hollywood history, and its junk-rated bonds were among the heaviest sold in early trading. Just days earlier, SoftBank raised 11.1 billion dollars through high-yield bonds to support a large AI investment plan, forcing the company to offer historically high yields, including 9.75% on 7.5-year notes, to attract investors. Sheldon Chan, a portfolio manager for Asian and emerging-market debt at T. Rowe Price Group, said rising volatility was a key factor prompting some investors to avoid the market for now, and that the market's direction from here would depend mainly on macroeconomic factors and economic conditions. Meanwhile, in the riskier part of the US bond market, credit spreads jumped above 1,000 basis points relative to US Treasuries for the first time since the regional banking crisis in 2023, after spreads rose steadily from April as investors began positioning for the Fed's next rate hike.
9984.JP · Capital · Negative SoftBank raised $11.1 billion in high-yield bonds, having to offer historically high yields including 9.75% to attract investors.
PSKY · Capital · Negative Paramount Skydance issued $52 billion of debt to fund its acquisition, and its junk-rated bonds were among the heaviest sold, signaling financing strain.
Paramount CEO asks CNN chief to stay on after acquisition
Paramount Chief Executive David Ellison has asked CNN CEO Mark Thompson to remain at the helm of CNN after the completion of the Warner Bros. Discovery acquisition. A person familiar with the matter confirmed this to Reuters on the first of the month. The two have discussed a new contract over the past few weeks aimed at keeping Thompson on, but they have not yet reached agreement on terms. Thompson places great importance on editorial independence and is said to be seeking guarantees that he can retain broad authority over CNN's news coverage. The acquisition will bring CNN and CBS News under the same corporate umbrella, and Paramount executives are continuing to examine how the two outlets will work together after the merger. CBS News editor-in-chief Bari Weiss is expected not to be involved with CNN after the deal closes. On September 30, a U.S. federal district court approved a settlement between Paramount and 12 states led by California that had sued to block the acquisition, issuing an order allowing the deal to proceed. Under the settlement, the combined company must establish a "news editorial independence committee" to protect the editorial autonomy and fact-based reporting standards of CBS News and CNN.
PSKY · Capital · Positive Paramount's acquisition of Warner Bros. Discovery cleared a federal court settlement, allowing the deal to proceed and bringing CNN and CBS News under one umbrella.
WBD · Capital · Positive The court-approved settlement lets Paramount complete its acquisition of Warner Bros. Discovery.
CNN · Regulation · Neutral Paramount CEO asks CNN chief Mark Thompson to stay, with editorial-independence guarantees and a new editorial independence committee required under the settlement.
Fox Falls 17% After Announcing $22 Billion Roku Acquisition
Fox Corporation announced an agreement to acquire Roku for $22 billion in a mix of cash and stock, sending its shares down 17% in the next trading session. The TCW Relative Value Mid Cap Fund disclosed the reaction in its second-quarter 2026 investor letter, noting that investors were concerned about the large size of the deal, debt financing, and potential for equity dilution. Fox, Primoris, and Venture Global were the weakest performers in the fund's portfolio during the quarter. Fox closed at $62.65 on September 30, 2026, with a $26.42 billion market capitalization, and has posted a roughly 14.26% year-to-date pullback within a 52-week range of $48.34 to $76.39. The company is also facing regulatory scrutiny as the Department of Justice deepens its review of the proposed Roku acquisition.
FOXA · Capital · Negative Fox announced a $22B cash-and-stock Roku acquisition, raising concerns over deal size, debt financing, and equity dilution that drove shares down 17%.
FOXA · Regulation · Negative The DOJ is deepening its review of the proposed Roku acquisition, adding regulatory scrutiny to the deal.
ROKU · Capital · Neutral Roku is the acquisition target in Fox's $22B deal, but the article gives no clear directional read on Roku itself.
Townsquare Media and Lakes Media Network Announce Digital Advertising Partnership
Townsquare Media, Inc. announced a strategic digital advertising partnership with Lakes Media Network, a radio and digital advertising platform with six radio brands serving Southside Virginia and Northern North Carolina. Under the agreement, Lakes Media Network's sellers will gain access to Townsquare Ignite's proprietary programmatic platform, advanced audience targeting and transparent performance reporting, allowing clients to run one coordinated campaign across radio, digital and every device. Townsquare launched its Media Partnerships division within Townsquare Ignite in 2024 to bring its digital advertising solutions to other local media companies through a white-label service, with digital now contributing more than half of the Company's total revenue and profit. Shaun Collignon, CRO of Townsquare Ignite, said the partnership lets Lakes Media grow its business without having to build that infrastructure itself. Tom Birch, Owner and President of Lakes Media Network, said the collaboration gives its local and regional clients access to data and comprehensive multi-channel strategies for lead generation, acquisition and engagement.
TSQ · Demand · Positive Townsquare Ignite signs a digital advertising partnership with Lakes Media Network, expanding its programmatic ad platform to new clients.
Lakes Media Network · Demand · Positive Lakes Media Network gains access to Townsquare Ignite's programmatic platform, letting its sellers offer coordinated multi-channel campaigns to clients.
Paramount Skydance Prices $41.4B Notes, €885M Euro Notes
Paramount Skydance said Wednesday it agreed to sell $41.4 billion of senior secured notes, along with €885 million of euro-denominated notes, as part of a debt offering spanning maturities through 2066. The offering includes $30 billion of first-lien notes and $11.4 billion of second-lien dollar notes, with interest rates ranging from 6.30% to 9.125%, and the sale is expected to close Oct. 5, subject to customary closing conditions. The company also priced an incremental term loan facility comprising an $8.5 billion U.S. dollar tranche and a €850 million euro tranche, both maturing in 2033, with the dollar tranche increased from $7.5 billion and a corresponding reduction in the aggregate principal amount of the first-lien notes. Separately, a California federal judge approved Paramount Skydance's settlement with 12 state attorneys general, allowing its $110 purchase of Warner Bros. Discovery to be completed. US District Judge Araceli Martínez-Olguín in Oakland approved the settlement in an order Wednesday.
PSKY · Capital · Neutral Paramount Skydance priced $41.4B of senior secured notes plus €885M euro notes and an $8.5B term loan, a major debt financing event.
PSKY · Regulation · Positive A California federal judge approved the settlement with 12 state attorneys general, clearing the way for its $110 purchase of Warner Bros. Discovery.
WBD · Regulation · Positive The court approval of the settlement allows Paramount Skydance's acquisition of Warner Bros. Discovery to be completed.
US court approves Paramount's Warner acquisition; Mattel's Kreiz to become co-CEO
A US federal court on the 30th issued an order approving the completion of US media giant Paramount's acquisition of Warner Bros., moving forward a deal that had been stalled for months. US District Judge Martinez-Orguin approved a settlement reached on September 21 with 12 states led by California. Under the settlement, the combined company must release at least 30 films in US theaters each year for five years and add 300 million dollars a year to its US production spending; if it fails to meet the release threshold, it could be forced to sell the distributor Miramax. The two companies also settled an antitrust lawsuit brought by the Writers Guild of America, agreeing to pay 17.5 million dollars into the union's health fund and to maintain union member employment levels at CBS News for five years. Paramount announced that Ynon Kreiz, CEO of US toy giant Mattel, will serve as co-CEO to lead the combined company; Kreiz will join on the 5th and become co-CEO alongside Chairman and CEO David Ellison when the acquisition closes, overseeing day-to-day operations and integration. The two companies said the acquisition is expected to be completed on the 6th.
PSKY · Regulation · Positive US federal court approves Paramount's acquisition of Warner Bros., clearing the regulatory/antitrust hurdle that had stalled the deal.
WBD · Regulation · Positive Court approval of the settlement clears the antitrust obstacles, allowing Warner Bros. Discovery to be acquired by Paramount.
Miramax · Regulation · Negative Under the settlement, the combined company could be forced to sell distributor Miramax if it fails to meet the 30-films-per-year theatrical release threshold.
MAT · · Neutral Mattel CEO Ynon Kreiz named co-CEO of the combined Paramount-Warner company, a leadership change but no stated impact on Mattel's own business.
Paramount Skydance and Warner Bros. Discovery expect to close merger on Oct. 6
Paramount Skydance and Warner Bros. Discovery said on Wednesday, Sept. 30, that they expect their merger to be completed on Oct. 6, combining the entertainment and streaming businesses of the two U.S. media companies. The merger agreement announced in February calls for Warner Bros. Discovery shareholders to receive $31 per share in cash, and if the deal closes after Sept. 30, shareholders will receive an additional $0.00277778 per share for each day of delay until the transaction is completed. If the deal closes on Oct. 6 as scheduled, Warner Bros. Discovery shareholders will receive a total of $31.01666668 per share. Both companies also said the closing remains subject to customary conditions. After the merger, Warner Bros. Discovery's businesses, which include HBO Max, Warner Bros., CNN and Discovery, will be combined with Paramount Skydance's assets, which include Paramount Pictures, CBS, Nickelodeon, Paramount+ and Pluto TV. The transaction marks a major consolidation in the global media industry as companies seek greater scale in the film, television and streaming sectors.
PSKY · Capital · Positive Paramount Skydance expects to close its merger with Warner Bros. Discovery on Oct. 6, combining the two media companies.
WBD · Capital · Positive Warner Bros. Discovery shareholders will receive $31 per share cash plus a delay premium, with the merger expected to close Oct. 6.
Mattel CEO to step down, Condé Nast's Lynch named successor; Kreiz to become Paramount co-CEO
U.S. toy giant Mattel announced on the 30th that Chief Executive Officer Ynon Kreiz is stepping down and that Roger Lynch, CEO of publishing giant Condé Nast, will be promoted to succeed him. Lynch has served on Mattel's board since 2018 and is expected to take over as CEO by November 2. U.S. media giant Paramount Skydance announced the same day that it will bring in Kreiz as co-CEO effective October 5, with him also serving on the board. The company has signed a deal to acquire Warner Bros. Discovery for about 110 billion dollars. Meanwhile, Condé Nast, where Lynch has served as CEO for about seven years, has named board member Mike Parisi as interim CEO. Kreiz pushed forward Mattel's transformation into an entertainment company and expanded the business, including the blockbuster film "Barbie" in 2023, but now faces higher tariffs on imported goods under the Trump administration and pressure from activist investors.
Paramount Skydance Prices $41.4 Billion and €885 Million Notes, $8.5 Billion and €850 Million Term Loan B
Paramount Skydance Corporation has agreed to sell $41.4 billion and €885 million in senior secured notes and priced an $8.5 billion and €850 million incremental Term Loan B facility, with the proceeds earmarked for its acquisition of Warner Bros. Discovery. The notes offering comprises $30 billion of first lien senior secured notes across eight tranches, from $3.5 billion of 6.30% notes due 2028 to $1.25 billion of 8.90% notes due 2066, alongside $11.4 billion and €885 million of second lien senior secured notes, including $6 billion aggregate principal amount of 8.250% Senior Secured Second Lien Notes due 2031, €885 million of 7.000% second lien notes due 2031, $4 billion of 8.875% notes due 2034 and $1.4 billion of 9.125% notes due 2036. The Incremental Term B Facility consists of an $8.5 billion U.S. dollar tranche, increased from $7.5 billion as previously announced with a corresponding reduction in the first lien notes, and a €850 million euro tranche; the dollar tranche is issued at 99.75% of face value and bears interest at Term SOFR plus 2.75% per annum, while the euro tranche is issued at 100% of face value and bears interest at EURIBOR plus 2.75% per annum, with the facility maturing in 2033. The notes sale is expected to close on October 5, 2026, subject to customary closing conditions. Paramount Skydance intends to use the net proceeds, together with cash on hand, borrowings under previously announced term loan financings and the net proceeds of its previously announced equity financing, to finance the purchase price for its acquisition of Warner Bros. Discovery and repay certain existing debt, and it noted that consummation of the notes offerings is not a condition to the acquisition.
PSKY · Capital · Neutral Paramount Skydance prices $41.4B and €885M in notes plus $8.5B/€850M Term Loan B to fund its Warner Bros. Discovery acquisition, a major debt-financing event.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target being financed by Paramount Skydance's notes and term loan proceeds.
Paramount and Warner Bros. Discovery Expect Merger to Close Oct 6
Paramount Skydance and Warner Bros. Discovery said on Wednesday they expect their merger to close on Oct. 6, bringing the two U.S. media companies closer to combining their entertainment and streaming businesses. The companies said the closing remains subject to customary conditions. The merger agreement, announced in February, provides for WBD shareholders to receive $31 in cash per share, with an additional payment of $0.00277778 for each calendar day after Sept. 30 until the deal closes. If the transaction closes on Oct. 6 as expected, WBD shareholders will receive $31.01666668 per share, the companies said. The deal would combine WBD's portfolio, which includes HBO Max, Warner Bros., CNN and Discovery, with Paramount's assets including Paramount Pictures, CBS, Nickelodeon, Paramount+ and Pluto TV, marking a major consolidation in the global media industry as companies seek greater scale in film, television and streaming.
Judge Approves Settlement Clearing Paramount's $111-Billion Warner Bros. Discovery Deal
A federal judge in Oakland has approved a settlement allowing Paramount Skydance Chief Executive David Ellison to finalize his $111-billion acquisition of Warner Bros. Discovery, a deal that could close by early next month. The five-year consent decree requires the combined Paramount-Warner Bros. to release 30 films in theaters each year, commit an additional $1.5 billion to domestic film production and set aside $47.5 million for workers who may be adversely affected by the merger. It also creates a five-member panel to monitor editorial independence at CBS News and CNN, though critics note the Ellisons control the board appointments, and bars Paramount from selling or closing its Melrose Avenue campus in Hollywood or the larger Warner Bros. lot in Burbank, which must be operated in a manner consistent with past practices for at least five years. An independent monitor is expected to oversee implementation, and Paramount will face restrictions on how it wields clout in negotiations over distribution of its basic cable TV channels. The merger has been unpopular in Hollywood, with opponents accusing California Atty. Gen. Rob Bonta, who led negotiations with Paramount, of caving to political pressure from Gov. Gavin Newsom and Los Angeles Mayor Karen Bass, who publicly urged him to abandon his court fight in favor of settlement talks.
PSKY · Capital · Positive Judge approves settlement clearing Paramount Skydance's $111-billion acquisition of Warner Bros. Discovery, allowing the deal to close.
WBD · Capital · Positive Settlement approval clears the way for Warner Bros. Discovery to be acquired by Paramount Skydance in the $111-billion deal.
CNN · Regulation · Neutral Settlement creates a five-member panel to monitor editorial independence at CNN, though critics note the Ellisons control board appointments.
SES and Sky Extend Satellite Capacity Deal Into Next Decade
SES and Sky have signed a new multi-year agreement extending their long-standing partnership for direct-to-home satellite services across the United Kingdom and Republic of Ireland, running into the next decade. Under the deal, Sky will continue to use SES satellite capacity at the 28.2 degrees East orbital position to deliver television services to millions of households in the region. The renewal extends a partnership that dates to 1988 and reinforces satellite's ongoing role in delivering premium television experiences at scale. Sky Group Chief Operating Officer Nick Herm said satellite continues to play an important role in how the company delivers services to customers across the UK and Ireland, while SES President Media Vertical Deepak Mathur called the significant multi-year renewal a demonstration of the confidence leading broadcasters continue to place in satellite. SES is headquartered in Luxembourg and listed on the Paris and Luxembourg stock exchanges under the ticker SESG.
SESG.PA · Demand · Positive SES signed a multi-year renewal with Sky to continue providing satellite capacity at 28.2°E for DTH TV across UK and Ireland.
Sky Group Limited · Supply · Positive Sky secured continued SES satellite capacity at 28.2°E to deliver TV services to millions of households into the next decade.
KGEN hints at strong Q3 as OJMT plant output tops 20,000 vehicles
Kanit Srivachiraprapha, Chairman of the Advisory Board of King Gen Public Company Limited, or KGEN, disclosed that the company's third-quarter 2026 operating results are clearly improving over the second quarter of 2026, driven by higher car sales and by the Omoda & Jaecoo Manufacturing (Thailand) Company Limited, or OJMT, vehicle assembly plant, which has continued to expand production capacity, pushing profit margins higher. Cumulative output at the plant has now passed the 20,000-vehicle mark, and it is currently producing more than 4,000 vehicles a month. The company plans to hold a shareholders' meeting to raise 252 million baht in capital for Rayong Wire Industries Public Company Limited, or RWI, on 22 October, with the funds expected between 26 October 2026, and will use the money to increase its stake in the OJMT plant from 51% to 60%. As a result, in the fourth quarter of 2026 KGEN will fully consolidate the plant's sales and operating results into its financial statements, driving total revenue growth to jump sharply. This year output is expected at around 40,000 vehicles, while for 2027 the target is to run at full capacity of 80,000 vehicles a year. Most recently, the company launched the iCAUR V27 REEV, a hybrid model with a maximum driving range of 1,000 kilometres, starting at just 999,900 baht, with deliveries beginning on 1 October. It has drawn more than 3,000 bookings at the Big Motor Sale event.
KGEN.BK · Capital · Positive KGEN's Q3 2026 results are clearly improving on higher car sales and expanded OJMT output, with full consolidation of the plant from Q4 set to sharply lift revenue.
KGEN.BK · Demand · Positive The newly launched iCAUR V27 REEV drew over 3,000 bookings at the Big Motor Sale event, signaling strong end-customer demand.
RWI.BK · Capital · Positive RWI shareholders will meet on 22 October to raise 252 million baht in capital, with funds expected from 26 October 2026.
Omoda & Jaecoo Manufacturing (Thailand) · Supply · Positive OJMT's assembly plant has expanded capacity past 20,000 cumulative vehicles and now produces over 4,000 vehicles a month, with output targeted at 40,000 this year and 80,000 in 2027.
KGEN to raise OJM Thailand stake to 60% by late October
King Gen, or KGEN, is preparing to increase its stake in OJM Thailand from roughly 51% at present to 60% by late October, with the new investor group expected to inject funds around October 26 under the terms set out in the contract. The increased stake will allow KGEN to fully consolidate the plant's financial statements and sales into its own accounts from the fourth quarter onward. Khanit Sivachiraprapha, chairman of KGEN's advisory board, said overall operations in the third quarter of 2026 are likely to keep growing, with the plant having started operations on April 20. It has now produced more than 20,000 vehicles in cumulative output, or an average capacity of more than 4,000 vehicles a month, and third-quarter results are expected to beat the second quarter in both sales and profit margins, helped by lower production costs and a higher share of locally sourced parts under government policy. For next year, the company is targeting production at full capacity of about 80,000 vehicles a year, with some of that output earmarked for export markets. The current plant covers about 14 rai, with an extension site for vehicle inspection and pre-delivery preparation located roughly one kilometre away. In the auto market, on September 29 Chery and iCar Thailand launched ICAUR in Thailand with the Icaur V27 Reev, a Premium Classic Boxy SUV, offering three variants priced from 999,900 baht and up to 1,259,900 baht for the top model. First deliveries begin early this month, and the entire import quota of 1,000 vehicles has already been fully booked, with reservations filled about three months ago.
Paramount Skydance Plans $44.4 Billion Notes Offering for Warner Bros. Discovery Deal
Paramount Skydance is preparing to raise about $44.4 billion through senior secured notes to help finance its acquisition of Warner Bros. Discovery. The planned financing includes U.S. dollar-denominated first-lien notes as well as second-lien notes denominated in U.S. dollars and euros. Paramount said proceeds will be used to help fund the Warner Bros. Discovery acquisition and repay certain existing debt, alongside cash on hand and previously announced debt and equity financing. The final structure has not yet been set, with principal amounts, interest rates, currencies and maturities still subject to market and other conditions, and Paramount said completion of the notes offering is not a condition for closing the acquisition. At about $44.4 billion, the proposed notes offering is roughly four times Paramount's current market capitalization of about $11.2 billion, and Paramount shares fell about 2.2% Monday to $9.96.
PSKY · Capital · Negative Paramount plans a $44.4B senior secured notes offering — roughly four times its market cap — to finance the Warner Bros. Discovery acquisition, raising leverage concerns.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target being funded by Paramount's $44.4B notes offering; no direct standalone impact on WBD stated.
Gray Media Raises Third Quarter 2026 Political Ad Guidance, Lifts Low End of Revenue Range
Gray Media has raised its third quarter 2026 political advertising guidance and lifted the low end of its total revenue range, according to an update issued in connection with lender meetings to potentially refinance its credit facility. The Atlanta-based broadcaster now expects political advertising revenue of $188 million to $195 million for the quarter ending September 30, 2026, up from its August 7, 2026 guidance of $165 million to $185 million, while core advertising is now expected to be down 1% to flat as reported, compared with prior guidance of flat as reported. Total revenue guidance was narrowed and lifted to $950 million to $965 million from $935 million to $965 million, and total corporate and administrative expense guidance was lowered to $30 million to $35 million from $35 million to $40 million. Gray said it currently anticipates no outstanding borrowings under its Revolving Credit Facility as of September 30, 2026, and that borrowing capacity under its Accounts Receivable Securitization facility is approximately $379 million, reflecting lower core commercial receivables driven by strong political advertising revenues, which are paid in advance. The company expects to report its third quarter 2026 financial results on Friday, November 6, 2026, and to host its quarterly investor call at 11AM that morning.
GTN · Capital · Positive Gray Media raised Q3 2026 political ad guidance and lifted the low end of its total revenue range while lowering expense guidance, in connection with lender meetings to refinance its credit facility.
Paramount Settles With California and 11 States Over $81 Billion Warner Bros. Discovery Bid
Paramount Skydance Corporation settled with California and 11 other states in late September 2026, clearing the biggest legal obstacle to its $81 billion pursuit of Warner Bros. Discovery, Inc. The terms commit Paramount to at least $1.5 billion of additional U.S. production spending over five years, a minimum of 30 films released annually, keeping its Los Angeles studio lots, funding workforce training, and building editorial-independence safeguards for CNN and CBS News. No major structural changes were required upfront, though the agreement leaves room for penalties and includes forced asset sales if Paramount fails to meet its commitments. The settlement also requires roughly $650 million of quarterly payments, or about $7 million per day, after October 1 if closing slips. Hedge fund holders of Warner Bros. Discovery rose to 101 in the second quarter of 2026 from 94, with position value climbing to $11.58 billion from $9.31 billion, while Paramount's hedge fund count grew to 38 from 30 even as position value slipped to $368.8 million from $370.5 million.
PSKY · Regulation · Positive Settlement with California and 11 states clears the biggest legal obstacle to its $81B Warner Bros. Discovery bid, though it adds $1.5B production spending and penalty commitments.
WBD · Capital · Positive Paramount's $81B acquisition pursuit of Warner Bros. Discovery advances as the key state legal obstacle is settled.
Paramount Settles Suits, Clearing Path for $110 Billion Warner Bros. Discovery Deal
Paramount Skydance has settled the legal challenges brought by California and 11 other states and the Writers Guild of America, removing major obstacles to its $110 billion acquisition of Warner Bros. Discovery. The development sent WBD shares up more than 10% on September 21, according to Reuters. Under the state agreement, Paramount committed to spending at least $300 million more each year on domestic film production compared with 2025 levels, to produce 30 theatrical films annually in each of the first two years covered by the settlement and 32 annually in each of the following three years, with at least four films a year independent productions and at least 20% blockbusters, and to pay $30 million for each film it falls short of the required annual output. Paramount also agreed not to raise rates on theater operators for three years and to establish an editorial independence board for CNN and CBS, concessions that let it avoid an immediate forced sale of cable assets such as CNN or its film franchises. Reuters estimates Paramount would owe WBD shareholders roughly $7 million per day after September 30, and the companies have said the combination is expected to generate more than $6 billion in synergies while Reuters reported the combined company is expected to carry $80 billion in debt.
KGEN to open OJMT plant for EV production, adds FARIZON brand, targets return to profit in 2026
King Gen Public Company Limited, or KGEN, is pushing ahead with a major strategic shift into an EV ecosystem, spearheaded by the OMODA & JAECOO electric vehicle assembly plant, or OJMT, and is preparing to add the commercial electric vehicle brand FARIZON as a new S-Curve. The OJMT plant will begin full commercial production in 2026, and is currently ramping up capacity by adding a second shift, lifting output from roughly 5,000 vehicles per month to about 8,000 vehicles per month, an increase of approximately 60%. Trinity Securities estimates OJMT sales of about 40,000 vehicles in 2026, rising to 50,000 in 2027 and 60,000 thereafter. FARIZON, meanwhile, targets sales of about 2,000 vehicles in 2026, rising to 3,000 and then 4,000 thereafter. For the second half of 2026, the company targets electric vehicle sales of about 20,000 units through the JAECOO, OMODA, LEPAS and CHERY brands, at an average price of about 500,000 to 700,000 baht per vehicle, supported by a network of more than 200 partner showrooms. On the transport side, Montri Transport has a backlog of nearly 1,000 vehicles from private-sector B2B customers, worth a combined total of more than 1 billion baht. Trinity expects KGEN to stage a clear turnaround in 2026, with revenue rising to 24.96 billion baht from 718 million baht in 2025, before climbing to 33.06 billion baht in 2027, or growth of about 32% year on year, and net profit swinging from a loss of 136 million baht in 2025 to a profit of 504 million baht in 2026 and 692 million baht in 2027, or growth of about 37% year on year. It also sets a 2026 fair value of 2.90 baht, based on a price-to-earnings ratio of 12 times and 2026 earnings per share of 0.24 baht, and if all warrants are exercised and dilution occurs, the fair value would be 2.38 baht.
KGEN.BK · Capital · Positive Trinity Securities forecasts KGEN swinging from a 136M baht loss in 2025 to a 504M baht profit in 2026 with a 2.90 baht fair value.
KGEN.BK · Demand · Positive OJMT EV plant ramping to 8,000 vehicles/month and FARIZON brand targeting 2,000+ EV sales, with Trinity projecting 40,000 OJMT vehicles in 2026.
Paramount Skydance Syndicates $7.5 Billion Loan for Warner Bros. Discovery Deal
Paramount Skydance began syndicating a new US$7.5 billion loan on 23 September 2026 to help fund its planned Warner Bros. Discovery acquisition. The media group also outlined plans to raise more than US$44 billion in secured debt tied to the proposed transaction, with the incremental Term B loan and the roughly US$44.4 billion in additional secured borrowings forming part of a broader capital pool. Together with existing financing and equity proceeds, that pool is earmarked to pay the Warner Bros. Discovery purchase price and refinance parts of the current debt stack. Management framed the fresh financing as a material step forward in deal execution, including new debt commitments and updated transaction milestones. The next reference point is how the US$7.5 billion Term B syndication clears the market, including final pricing, covenant terms and lender appetite, while investors can also track participation levels and settlement timing in the extended tender and exchange offers that Paramount Skydance wants to align with the eventual deal closing date.
PSKY · Capital · Neutral Paramount Skydance is syndicating a $7.5B loan and raising over $44B in secured debt to fund its Warner Bros. Discovery acquisition, a major financing event.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target whose purchase price the new Paramount Skydance debt pool is earmarked to pay.
Paramount Skydance Launches $7.5B Term B Loan to Fund Warner Bros. Discovery Deal
Paramount Skydance announced on Thursday that it launched a $7.5B senior secured Term B loan to help finance its planned acquisition of Warner Bros. Discovery. The new loan is part of a larger financing package: the company plans to raise about $44.4B in additional secured debt alongside the new loan and previously announced financing. The proceeds, together with cash on hand and planned equity financing, will be used to fund the WBD acquisition and repay certain existing debt. The financing and the acquisition remain subject to market and other conditions, and the company said there is no guarantee the transactions will close on the proposed terms or timeline.
PSKY · Capital · Positive Paramount Skydance launched a $7.5B Term B loan as part of a $44.4B financing package to fund its planned acquisition of Warner Bros. Discovery.
WBD · Capital · Positive Paramount Skydance's financing package is aimed at funding its planned acquisition of Warner Bros. Discovery.
Paramount Skydance Launches $7.5 Billion Incremental Term B Facility Syndication
Paramount Skydance Corporation announced the launch of syndication for a proposed senior secured incremental tranche of term B loans in an aggregate principal amount of $7.5 billion, known as the Incremental Term B Facility. The company said the Incremental Term B Facility is part of a larger plan to raise approximately $44.4 billion of additional secured debt, alongside previously announced financings. Paramount intends to use the net proceeds from these borrowings, together with cash on hand and proceeds from a previously announced equity financing, to fund the purchase price for its previously announced acquisition of Warner Bros. Discovery and to repay certain existing debt. The company cautioned that the financing terms, including principal amounts, interest rates, currency denominations and maturities, as well as the completion of the acquisition, remain subject to significant conditions, and there can be no assurance the transactions will be consummated on the anticipated terms or timing, or at all.
PSKY · Capital · Neutral Paramount Skydance launches $7.5B incremental Term B facility syndication as part of ~$44.4B secured debt raise to fund the Warner Bros. Discovery acquisition and repay existing debt.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target whose purchase price Paramount intends to fund with the new debt and equity financing.
SES Begins Construction of Satellite Manufacturing Facility in Luxembourg
SES has commenced construction of a new satellite manufacturing facility in Kockelscheuer, Luxembourg, marking a major milestone in the company's vertical integration and business model evolution. The 16,000m² facility, expected to open in 2028, will include advanced engineering, manufacturing and testing facilities, office space and supporting infrastructure, with project CapEx covered under SES' CapEx guidance. It is being developed in collaboration with project partners CDCL Group and POUDRERIE de LUXEMBOURG (ParcLuxite) and sits at the center of Luxembourg's effort to build and scale a dedicated Space Campus. The site will support development of SES' next-generation medium Earth orbit network, meoSphere, and contribute to Europe's IRIS² program through payload development and satellite assembly, integration and testing. Luxembourg Prime Minister Luc Frieden called the facility a bold affirmation of the country's leadership in the space sector, while SES CEO Adel Al-Saleh said it builds on progress already made with the company's pilot line and R&D facility.
SESG.PA · Capital · Positive SES begins construction of a new satellite manufacturing facility, a capex/vertical-integration investment covered under its CapEx guidance
Poudrerie de Luxembourg · Demand · Positive Poudrerie de Luxembourg is a project partner developing the new SES satellite manufacturing facility
SES announced the appointment of Michel Scholer, Secretary General of the Luxembourg Government and Chief of Staff to the Prime Minister, to its Board of Directors, effective immediately. The appointment is part of SES's Board succession planning and its ongoing commitment to regularly review and strengthen the composition of its Board with diverse expertise and industry experience. Scholer was nominated for the SES Board by the Government of the Grandy Duchy of Luxembourg. Prior to his current role with the Luxembourg Government, he served as a Senior Adviser to the International Monetary Fund and with the Ministry of Finance, Luxembourg. SES, headquartered in Luxembourg and listed on the Paris and Luxembourg stock exchanges under the ticker SESG, said the move is intended to ensure the company is well positioned for future growth and value creation.
SES Board Approves EUR 0.25 Interim Dividend, Targets at Least EUR 0.50 for FY2026
The SES Board of Directors has approved an interim dividend of EUR 0.25 per A-share, or EUR 0.10 per B-share, payable to shareholders on October 15, 2026. The interim payment forms part of SES's continued commitment to shareholder returns intended to be at least EUR 0.50 total dividend for FY2026. Subject to financial results and shareholder approval, the October 2026 interim dividend will be followed by a final dividend of at least EUR 0.25 per A-share, or EUR 0.10 per B-share, in May 2027. SES is headquartered in Luxembourg and listed on the Paris and Luxembourg stock exchanges under the ticker SESG.
Paramount Prepares $49 Billion Debt Sale to Fund $110 Billion Warner Bros. Merger
Paramount Skydance Corporation is preparing to launch a $49 billion debt sale to fund its $110 billion acquisition of Warner Bros. Discovery, after settling a series of lawsuits that had blocked the deal from closing, according to Bloomberg. Bank of America, Citigroup, and Apollo Global Management, the banks that underwrote the debt package earlier this year, are now contacting potential investors, with a formal launch expected within weeks. The financing is divided into about $30 billion of investment-grade bonds, $7.5 billion of investment-grade loans, and around $12 billion of second-lien bonds, drawing from a dollar and euro investor base wider than what leveraged buyouts typically attract. Regulators in nearly 70 jurisdictions have approved the merger, and the Federal Communications Commission has signed off on the financing. Paramount settled Monday with 12 state attorneys general and the Writers Guild of America, resolving an antitrust lawsuit led by California Attorney General Rob Bonta that had threatened to push the deal's resolution to mid-2027; the settlement requires Paramount to release a minimum of 30 films in cinemas annually in the first two years, rising to 32 per year over the three years after that, and to spend at least $1.5 billion above its 2025 domestic film production levels over five years. Under the merger agreement, Paramount must pay Warner Bros. Discovery shareholders roughly $7 million per day beginning October 1 for every day the transaction remains unclosed, and Paramount had targeted a closing date in the third quarter.
Paramount to Launch $49 Billion Debt Sale After Warner Bros. Lawsuits Settled
Bankers are reaching out to investors ahead of the sale of $49 billion in financing backing Paramount Skydance Corp.'s takeover of Warner Bros. Discovery Inc., after the company settled a series of lawsuits that had held up the $110 billion acquisition. Bank of America Corp., Citigroup Inc., and Apollo Global Management Inc. underwrote one of the largest buyout debt packages on record earlier this year to fund the takeover, and lined up significant investor demand before the deal ground to a halt amid the threat of legal proceedings. The $49 billion package includes about $30 billion of investment-grade bonds, $7.5 billion of investment-grade loans and roughly $12 billion of second-lien bonds, targeting a wider range of dollar and euro investors than is typical for a leveraged buyout. The debt was structured to leave Paramount on the hook, rather than its lenders, if borrowing costs rise, with no caps on the interest rate, which should prevent a repeat of the hit banks took on so-called hung loans in 2022. Regulators in nearly 70 jurisdictions have already approved the merger, and the Federal Communications Commission and other federal agencies signed off on an extraordinary level of foreign financing, making it likely the acquisition can close very soon.
PSKY · Capital · Positive Paramount is launching the $49B debt sale to fund its $110B takeover of Warner Bros. after settling lawsuits, clearing the path to close.
WBD · Capital · Positive Warner Bros. Discovery is the acquisition target; the settled lawsuits and approved financing move the $110B takeover toward closing.
APO · Capital · Positive Apollo underwrote part of the $49B buyout debt package funding the Paramount-Warner Bros. takeover, a major financing deal.
BAC · Capital · Positive Bank of America underwrote one of the largest buyout debt packages on record to fund the takeover.
C · Capital · Positive Citigroup underwrote the $49B financing package backing the Paramount-Warner Bros. acquisition.
Paramount Settles State Antitrust Suit, Clearing Path for $110 Billion Warner Bros. Discovery Deal
Paramount Skydance reached a settlement with California and 11 other states that had sued to block its planned purchase of Warner Bros. Discovery, clearing the antitrust case that had threatened to hold up the acquisition, though the deal still awaits judicial clearance. Warner Bros. Discovery shares closed Sept. 21 at $30.80, up 10.8%, leaving them 20 cents short of the $31-per-share cash consideration Paramount would pay, while Paramount Skydance shares slumped 2.9% after initially gaining on the settlement news. The transaction values WBD at approximately $81 billion in equity value and $110 billion in enterprise value, and Paramount expects the combination to generate more than $6 billion in annual synergies within three years of closing. Under the settlement, the merged firm must release at least 30 theatrical pictures yearly in the first two years after closure and 32 annually in the next three years, with independent producers required to make a minimum of four films a year, or Paramount would pay $30 million for each picture it fails to deliver and may be forced to sell Miramax Studios. Paramount also agreed to spend at least $300 million more per year on U.S. film production, or a minimum of $1.5 billion over five years, compared with its 2025 spending level, and the settlement includes a $47.5 million worker fund and restrictions on how the combined company negotiates cable distribution. The resolution eliminates one of the largest near-term risks to the transaction's timing, as WBD shareholders are entitled to an additional $0.00277778 per share for every day after Sept. 30 until the deal closes, capped at $0.25 per 90-day period, a commitment Paramount has said is approximately $7 million a day based on WBD's share count.
PSKY · Regulation · Neutral Paramount settled the state antitrust suit clearing the path for its $110B WBD acquisition, but it must accept costly commitments (extra film spend, worker fund, distribution restrictions) and its shares slumped 2.9%.
WBD · Capital · Positive The antitrust settlement removes a major hurdle to Paramount's $31-per-share cash acquisition of WBD, with shares closing just 20 cents below the deal price.
Paramount Skydance Settles State Antitrust Suit Over Warner Bros. Discovery Merger
Paramount Skydance has settled the antitrust lawsuit brought by several state attorneys general over its merger with Warner Bros. Discovery, a deal the states say includes concessions such as promised production in California, a minimum film slate, and an editorial board for CNN. Analysts note the agreement's commitments run only five or six years and carry limited enforcement teeth, with little clear recourse if Paramount Skydance fails to meet its obligations. The minimum film slate is also seen as watered down, requiring only 20 to 30 films in the first year, with half of those potentially co-productions. California Governor Gavin Newsom was described as treating the matter as more political than substantive, drawing immediate backlash from the Writers Guild and other affected groups. For David Ellison, the settlement resolves the financing, regulatory, and execution questions that had clouded the deal since it was first announced.
PSKY · Regulation · Positive Settlement of the state antitrust suit clears the regulatory hurdle for its Warner Bros. Discovery merger, resolving financing and execution questions.
WBD · Regulation · Positive The antitrust suit over its merger with Paramount Skydance is settled, removing a legal obstacle to the deal.
Paramount Skydance settles with state attorneys general after Ellison's California exit threat
Paramount Skydance reached a settlement with state attorneys general after CEO David Ellison leveraged a threat to leave California and take thousands of jobs with it, pressuring California Attorney General Rob Bonta to settle ahead of Paramount's ticking fee deadline of Sept. 30. Paramount was poised to owe Warner Bros. Discovery shareholders millions of dollars for each day the deal didn't close past Oct. 1, and reports about its intent to leave California ratcheted up in August. By late August, a slew of high-profile California Democrats, including Gov. Gavin Newsom, Los Angeles Mayor Karen Bass, and Democratic gubernatorial nominee Xavier Becerra, had called on Bonta to settle, with Newsom playing a key role in brokering settlement talks, a source familiar with the negotiations said. Several state AGs held out over the weekend ahead of the settlement seeking additional concessions, though they lacked Bonta's time pressure and, in most cases, California's litigation resources. Under the settlement, Ellison agreed to create an editorial oversight board for CBS and CNN and to short-term behavioral remedies including distributing a certain amount of films in theaters for the next five years and bringing production jobs back to the U.S., concessions Bonta presented as a win Monday even as former FTC Chair Lina Khan, Sen. Elizabeth Warren, and Jane Fonda criticized the outcome.
PSKY · Regulation · Positive Settlement with state AGs clears regulatory hurdles and avoids the ticking fee deadline, allowing the Warner Bros. Discovery deal to close.
WBD · Regulation · Positive Paramount's settlement removes regulatory delay, enabling the pending deal that would pay Warner Bros. Discovery shareholders millions.
Paramount Settles with 12 States, Moves Closer to Warner Acquisition
Paramount Skydance, the major American media company, has reached a settlement with 12 states, including California, in a lawsuit in which they had sought to block its acquisition of rival Warner Bros. Discovery. The settlement, announced on the 21st, includes conditions such as guaranteeing the editorial independence of Warner's CNN television network. In February, Paramount outbid Netflix, the major American streaming company, agreeing to acquire Warner, including debt, for approximately 110 billion dollars, or about 17 trillion yen. The states, meanwhile, had filed suit in July, arguing the acquisition violated antitrust law. With this settlement, the birth of a corporate giant that will reshape the landscape of the film and television markets has drawn closer.
PSKY · Regulation · Positive Paramount settled with 12 states over antitrust objections, clearing a key regulatory hurdle for its $110B Warner acquisition.
WBD · Regulation · Positive The settlement removes state antitrust opposition, moving Paramount's acquisition of Warner Bros. Discovery closer to completion.
Paramount Settles US States' Lawsuit to Unlock $111bn Warner Bros Takeover
Paramount is poised to close its $111bn takeover of Warner Bros after settling a legal challenge brought by a dozen US states. As part of the settlement, the US media giant controlled by Larry Ellison has reportedly agreed to maintain independent editorial boards for CBS and CNN, and to pay a $30m penalty per film if it falls short of its promise to release 30 films in cinemas each year, Bloomberg reported. The merger had effectively been on hold since July, when a group of Democratic-run states led by California attorney general Rob Bonta sued to derail the deal, warning it would cause substantial harm to cinemas, cable TV operators and audiences by reducing the number of major Hollywood studios from five to four and combining two of the largest US news networks. The settlement was reportedly reached after four of the states dropped their opposition amid fears of soaring legal costs, and after Paramount threatened to pull out of California unless the case was dropped; Bonta accused the company's executives of blackmailing him to reach a settlement. Paramount had agreed to pay a ticking fee of $650m to Warner Bros shareholders for every quarter the transaction is delayed beyond the end of September, equivalent to $7m a day, and the merger has already been cleared in dozens of countries including the UK, where Paramount owns Channel 5.
Paramount Skydance Settles With 12 States Over $110 Billion Warner Bros Discovery Deal
Paramount Skydance has settled with California and 11 other states that sued to block its $110 billion acquisition of Warner Bros Discovery, a source familiar with the matter said on Monday, clearing one of the last hurdles to a deal that would reshape Hollywood. The settlement includes the creation of independent editorial boards for CNN and CBS, a move aimed at safeguarding the independence of their news operations under the combined company. It also includes a $30 million penalty per film for any shortfall against Paramount's pledge to release 30 movies annually. The settlement would remove a major obstacle to closing one of the largest media mergers in history, uniting two of Hollywood's biggest film studios, two major streaming services and two of the largest cable-news operations under a single owner. A coalition of 12 state attorneys general, led by California's Rob Bonta, sued in July to block the merger, arguing it would reduce competition and create a media behemoth with the power to raise prices in movies and television, while antitrust regulators in other jurisdictions globally, including the European Union and Britain, have already cleared the acquisition.
PSKY · Regulation · Positive Settlement with 12 states removes a major antitrust hurdle to closing its $110B Warner Bros Discovery acquisition.
WBD · Regulation · Positive The settlement clears the last major obstacle to Warner Bros Discovery being acquired by Paramount Skydance in the $110B deal.
SEPO Confirms MCOT-Thai PBS Merger Impossible, Prepares to Ask Cabinet to Review Eight State Enterprises
Thibodi Wattanakul, Director of the State Enterprise Policy Office, or SEPO, disclosed that reports of a merger between MCOT Public Company Limited, or MCOT, and the Thai Public Broadcasting Service, or Thai PBS television station, are impossible, because the two organizations operate under different legal provisions. However, the Ministry of Finance is preparing to propose that the Cabinet consider guidelines for resolving MCOT's problems, as well as review the operational plans and roles of eight other state enterprises, in order to assess their future direction, covering approaches such as dissolution, merger, or organizational restructuring, so that these agencies can operate efficiently and keep pace with changing economic conditions. Thibodi said he will wait to submit the matter to the Cabinet, which includes the MCOT issue and is likely to include the eight state enterprises as well, and will then hold another press conference. Earlier, the State Enterprise Policy Committee, or SEPO Board, approved a study to review the roles of eight state enterprises: the Marketing Organization for Farmers, the Public Warehouse Organization, the Market Organization, the Police Printing Office under the Royal Thai Police, the Playing Card Factory, the Liquor Organization, Bangkok Dock Company Limited, and MCOT Public Company Limited.
MCOT.BK · Regulation · Neutral SEPO says MCOT-Thai PBS merger is impossible, but Cabinet will review MCOT's problems and possible dissolution/merger/restructuring.
Bangkok Dock Company Limited (บริษัท อู่กรุงเทพ จำกัด) · Regulation · Neutral Bangkok Dock Company is among the eight state enterprises slated for a Cabinet review of operational plans and future direction, including possible dissolution or restructuring.
Liquor Distillery Organization (Excise Department) · Regulation · Neutral Liquor Organization is among eight state enterprises whose roles and future (dissolution, merger, restructuring) will be reviewed by Cabinet.
Marketing Organization (องค์การตลาด) · Regulation · Neutral Marketing Organization is among eight state enterprises whose operational plans and future direction will be reviewed.
Playing Cards Factory (โรงงานไพ่ กรมสรรพสามิต) · Regulation · Neutral Playing Card Factory is one of eight state enterprises whose roles will be reviewed by the Cabinet, with possible dissolution, merger, or restructuring.
Police Printing House (โรงพิมพ์ตำรวจ สำนักงานตำรวจแห่งชาติ) · Regulation · Neutral Police Printing Office is among eight state enterprises whose operational plans and future direction will be reviewed.
Thailand
