Antitrust rules barring studios from owning movie theaters were swept aside Friday after a federal judge approved an effort by the Justice Department to do away with the Paramount Consent Decrees, reported Variety.
These laws have been in effect since the golden age of movies. They were intended to break up the stranglehold that major studios such as Warner Bros., 20th Century Fox, and Paramount once maintained on the business by preventing them from owning both the means of production and distribution. Other studios, however, such as the Walt Disney Company and Lionsgate, which became distributors after the law went into effect, were not subject to the rules.
The move comes after the department proposed eliminating the regulations last fall, noting that they were anachronistic and failed to predict the complex ways that various forms of entertainment are made and distributed.
On Friday, U.S. District Judge Analisa Torres found “…that termination of the Decrees is in the public interest.”
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI