Paramount和解诉讼推进100亿美元收购华纳，摩根士丹利员工泄密

Live from Bloomberg's world headquarters in New York City. We're tracking the key players, the major moves and the capital flows shaping global market. This is Bloomberg deals. Welcome to another episode of Bloomberg Deals, the only show dedicated to the corporate action reshaping markets. The Paramount Warner deal moves forward after a settlement agreement to end lawsuits from multiple states. Opening up a new chapter for media and Royal Caribbean dips its toes into the resort market, forming a joint venture with Sandals All Inclusive Resorts.

And later, we're going to be joined by two giants in global M&A. That is Michael Al Aiello, a partner at while, and Charlie Burkhart, head of global M&A at J.P. Morgan. First, let's get to our big deal and a big deal. It is a Morgan Stanley staffer accidentally leaking an internal document listing more than 100 investment banking deals the firm is pitching and monitoring. The document included potential IPO's, private equity backers and paused projects.

Bloomberg's Matt Monks joins us now for more. Matt, this has got to be awkward and require a little bit of cleaning up for Morgan Stanley. This has been blowing up my email inbox and my texts all morning. I feel bad for this guy. You saw the latest Ben. We have his name, Mohammed Amani. I believe his name is head of financial sponsors in Asia Pacific for Morgan Stanley. Well, it sounds like he did is he was trying to release, uh, a client facing version, and then he sent the live one with all their sensitive situations to it.

You can't overstate how much of a black guy this is reputational. And not just for him, but for the firm. I mean, client confidentiality is what it's all about, unfortunately. I mean, but it is one of those things, like, who among us is not sent an errant email? I think less of us have probably sent one with so much consequence. But is there this degree work clients maybe can overlook it because it's not like this is one deal looked.

It's just like the magnitude is clearly and obviously a mistake. I don't know how to answer that. It's not great. You pay enormous amounts of fees to these firms for confidentiality. It's a terrible mistake. I mean, yes, people make mistakes. I've made more than I'd like to admit, but it's. It's really bad. Elsewhere in the banking world, you know, no other deal you in the team are tracking out is another Goldman deal.

Feels like they're increasingly getting back into M&A in their own right. This one over a Cielo manager. What is this deal and why does it seem like they're doing it. So Goldman Sachs is really out there like gangbusters trying to build up their asset management division. They've been blowing out the doors on the market side. And they really want to add another stool. In the asset management sector. They've done two other deals one in ETFs, another one in CRE.

And now they're got their eyes set on this cloud business. It's a really great scaled up asset in the hottest area of asset management right now. They're pretty far along. We'll see if they get there. Is this a new Goldman back into the deals market. Uh slowly like they've done deals in the past. Famously they went into consumer banking. Didn't go so well with green Sky. So now they're kind of going line by line, business by business, doing in a very thoughtful manner.

Man, Thank you so much for joining us. That is Bloomberg's Deals editor Matt Monks. And another big deal that we are watching that we've been watching all year. Paramount settling lawsuits brought by multiple attorneys general, paving the way for its historic 10 billion acquisition of Warner Brothers. Bloomberg's Chris Palmeri joins us now from LA. Chris, there in California, what were the final things that got this over the hurdle?

Oh well first of all, a lot of pressure on California Attorney General Rob Bonta to get a deal done. All of the top leadership, Democratic leadership in California was urging him to settle. And there was a steady drumbeat of, you know, threats essentially by Paramount to relocate out of the state. So I think he was under a lot of pressure to do a deal. Uh, he didn't get the sort of structural changes he talked about for quite a while, selling cable channels, that kind of thing.

But he got a long list of, uh, you know, concessions, uh, guardrails. He called them, uh, to ensure that there'd be a better competition in the business for at least five years. Chris. There was a lot of discussion as we waited for this deal to complete, just how expensive it was, how the ticketing fees were stacking up. Did this deal ultimately end up a lot more expensive for Paramount to get done? I think there's still a belief that they can close before the end of the month.

Uh, there's still a lot to do. There's a hearing tomorrow where the judges is going to ask questions about the settlement before approving it. Uh, they're now raising financing, uh, debt financing. Over 50 billion. Equity financing, also of that magnitude. Uh, so, uh, you know, there's a lot still to be done before closing, but all the major hurdles are lifted. Uh, other major hurdles. And can you just recap us on. You mentioned some of this, but what they have agreed to, for example, the their 30 film slate out in cinemas.

Um, is that a big change for Paramount? Is that a difficult thing for them to achieve? Just what? Well, that is something they've been offering for a while. It is an increase. And, you know, the concern is that, uh, the merger of these two big studios, Warner Brothers and Paramount, and then they stop, you know, cut back on releasing films because they're costly to make. So, uh, so a lot of people in Hollywood community, the theater owners in particular, want to make sure there's a real steady stream of films in theaters.

You know, that was a big concession. There was other things. There's an editorial board that's going to oversee CNN and CBS news. These are going to be five journalists, uh, sort of evenly balanced politically, uh, who are, you know, going to make sure that there's not corporate interference with the news organizations. Those are two biggies. Hey, Chris, thank you very much for that. That's Bloomberg's Chris Palmeri.

I also want to point out in the last 30 minutes or so, uh, semaphore reporting that Paramount is weighing tapping Elon Musk for an equity investment into Paramount, a name of a few wealthy individuals that they are looking at, according to semaphore. Elsewhere, the company behind Michael Kors and Jimmy Choo is in the mood to make another deal. Scarlet Fu is here with more on Capri. Scala three. Dante. Shares of Capri are rallying for a second day following a report that the global fashion company has been connecting with potential buyers.

According to Women's Wear Daily, would be investors have checked over the company's finances. Capri declined to comment when we reached out for comment. Now, analysts say a deal would make sense given capris relatively low valuation. The stock was trading at 6.7 times estimated earnings before the report and its previously unsuccessful effort to sell itself. But Bloomberg Intelligence points out that any sale could result in a split of brand ownership because while the Jimmy Choo brand is seeing improvement and could fetch at least $500 million, the Michael Kors business still needs more time to stabilize, which limits the pool of potential buyers, and the aspirational fashion sector is ultra competitive.

Now, the context here is that Capri is no stranger to M&A. Last year, it sold off the Versace brand to Prada for .3 billion. And before that, in 2014, you'll remember it tried to merge with tapestry, the owner of Kate Spade, but a court ruling forced it to scrap the $8.5 billion deal due to antitrust objections. Danny Scarlett, thank you very much. Now another deal we have our eye on. Cruise operator Royal Caribbean agreed to buy a 50% stake in Sandals Resorts for about $3 billion, their largest d