First Squawk

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FAA ADMINISTRATOR BEDFORD APOLOGIZED FOR THE FLIGHT DISRUPTIONS, SAYING THE SYSTEM WILL NOT RESTART FOR INCOMING FLIGHTS AT SOME EAST COAST AIRPORTS 'UNTIL WE MAKE SURE THE AIRSPACE IS SAFE'.

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THE FAA ADMINISTRATOR SAYS THE LOSS-OF-COMMUNICATIONS ISSUE AT THE PHILADELPHIA FACILITY PROMPTED SIGNIFICANT FLIGHT CUTS, WITH A NEW CIRCUIT READY TO INSTALL AND EXPECTED TO BE OPERATIONAL BY 1:30 P.M. LOCAL TIME, THOUGH IT IS NOT CLEAR WHEN THE GROUND STOPS AT THE NEW YORK AREA AIRPORTS CAN BE LIFTED.

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THE U.S. FEDERAL AVIATION ADMINISTRATION TEMPORARILY HALTED FLIGHTS INTO NEWARK AND PHILADELPHIA AIRPORTS DUE TO COMMUNICATIONS ISSUES WITH SOME FREQUENCIES AT AN AIR TRAFFIC CONTROL FACILITY, ISSUING GROUND STOPS AT NEW YORK JFK, LAGUARDIA AND BOSTON AIRPORTS AS FALLOUT FROM THE TELECOM ISSUE WIDENED, WITH A BACKUP FIBER LINE ACCIDENTALLY CUT BY A CONSTRUCTION CREW.

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PARAMOUNT AND WARNER BROS. WILL ALSO BE REQUIRED TO CONTINUE NEGOTIATING THEIR CABLE PACKAGES SEPARATELY. CALIFORNIA WILL SELECT A TRUSTEE TO MONITOR PARAMOUNT’S COMPLIANCE WITH THE SETTLEMENT TERMS.

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CALIFORNIA ATTORNEY GENERAL SAID A COALITION OF ATTORNEYS GENERAL HAS REACHED A SETTLEMENT WITH PARAMOUNT TO ADDRESS ANTITRUST CONCERNS OVER THE PARAMOUNT-WARNER BROS. DISCOVERY DEAL, WHILE STRESSING THAT THE SETTLEMENT IS NOT AN ENDORSEMENT OR “BLESSING” OF THE MERGER. UNDER THE AGREEMENT, PARAMOUNT MUST MOVE MORE FILM PRODUCTION BACK TO THE U.S. BY SPENDING AT LEAST $300 MILLION MORE PER YEAR.

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NEW JERSEY ATTORNEY GENERAL DAVENPORT: UNDER THE SETTLEMENT, THE MERGED COMPANY WILL CREATE AN EDITORIAL-INDEPENDENCE BOARD FOR CNN AND CBS, ESTABLISH A FUND TO PURCHASE INDEPENDENT FILMS WITH $5 MILLION ANNUAL CONTRIBUTIONS FOR FIVE YEARS, AND COMMIT $47.5 MILLION OVER FIVE YEARS TO A WORKFORCE FUND.

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NEW JERSEY ATTORNEY GENERAL DAVENPORT ANNOUNCED A SETTLEMENT IN THE PARAMOUNT-WARNER BROS. DISCOVERY LITIGATION, WITH THE MERGED COMPANY COMMITTING AT LEAST $1.5 BILLION TO BOOST DOMESTIC FILM PRODUCTION. THE DEAL ALSO INCLUDES A FIVE-YEAR, COURT-ENFORCEABLE COMMITMENT TO INCREASE FILM OUTPUT; FAILURE TO MEET THE REQUIREMENT IN ANY YEAR WOULD TRIGGER A $30 MILLION PENALTY PER MISSED FILM AND COULD REQUIRE PARAMOUNT TO DIVEST MIRAMAX STUDIOS.

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PARAMOUNT SAYS IT HAS FULL CLEARANCE FOR WARNER BROS. DISCOVERY DEAL AFTER ADDRESSING US STATE AGS’ & WGA CONCERNS

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THE US, DENMARK, AND GREENLAND ARE GOING TO HOLD A SIGNING CEREMONY ON TUESDAY - FOX.

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THE AIM WOULD BE TO HELP SAUDI ARABIA COUNTER HOUTHI ATTACKS, STABILISE THE REGION AND REDUCE RISKS TO SHIPPING THROUGH THE BAB EL-MANDEB STRAIT, AND IF APPROVED IT WOULD BE ONE OF BURNHAM'S FIRST MAJOR MILITARY DECISIONS SINCE BECOMING PRIME MINISTER IN JULY.

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THE UK IS CLOSE TO AGREEING TO PROVIDE DEFENSIVE MILITARY SUPPORT TO SAUDI ARABIA AS THE KINGDOM FACES REPEATED ATTACKS FROM THE IRAN-BACKED HOUTHIS, WITH PRIME MINISTER ANDY BURNHAM REPORTEDLY LEANING TOWARD OFFERING ASSISTANCE SUCH AS AERIAL REFUELLING AND ENCOURAGING OTHER COUNTRIES TO PROVIDE SIMILAR SUPPORT.

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THE CONSENT DECREE ALSO REQUIRES AN INTERNAL COMPLIANCE MONITOR AND A COMMITTEE OF FIVE STATES TO OVERSEE ENFORCEMENT, WITH REMEDIES INCLUDING POSSIBLE DIVESTITURES IF THE COMPANIES BREACH THEIR OBLIGATIONS, WHILE THE NEW JERSEY ATTORNEY GENERAL SAID THE SETTLEMENT INCLUDES A MINIMUM ADDITIONAL $1.5 BLN COMMITMENT TO BOLSTER DOMESTIC FILM PRODUCTION.

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THE CONSENT DECREE REQUIRES THEATRICAL FILM COMMITMENTS — INCLUDING MINIMUM ANNUAL FILM RELEASES AND SPENDING AT LEAST $300 MLN MORE ANNUALLY ON U.S. FILM PRODUCTION THAN IN 2025 — ALONG WITH SEPARATE NEGOTIATIONS FOR THE DISTRIBUTION OF PARAMOUNT AND WARNER BROS. BASIC CABLE CHANNELS FOR FIVE YEARS, RESTRICTIONS ON AFFILIATE FEE NEGOTIATIONS, AND THE SETTING UP OF A 'NEWS EDITORIAL INDEPENDENCE BOARD' FOR THE COMBINED ENTITY'S NEWS CHANNELS.

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PARAMOUNT HAS SETTLED THE ANTITRUST LAWSUIT BY U.S. STATES THAT DELAYED ITS WARNER BROS. DISCOVERY ACQUISITION, COURT RECORDS SHOW, WITH THE CALIFORNIA ATTORNEY GENERAL SAYING THE SETTLEMENT RESOLVES ANTITRUST CONCERNS BUT IS 'NOT A VOTE OF SUPPORT FOR THIS MERGER' OR 'A BLESSING OF THE BROADER MERGER'.

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MORE THAN TWO DOZEN US LAWMAKERS URGE TRUMP TO MAINTAIN BAN ON CHINESE AUTOMAKERS - LETTER.

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BOC'S MACKLEM: MOVING TOO SLOW ON HIKES MEANS WE'D HAVE TO RAISE RATES VERY QUICKLY, AND MORE THAN HAD WE MOVED EARLIER

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UKRAINE READY FOR UNCONDITIONAL CEASEFIRE AND DIPLOMACY - ZELENSKYY TO CBC

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LILLY CAPTURING 70% OF SENIORS STARTING GLP-1S: CEO DAVE RICKS

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BOC'S MACKLEM: INFLATION FORECAST IS KEY THING BOC WILL BE LOOKING AT

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BOC'S MACKLEM: THAT IS A WORRY BECAUSE THAT WILL ADD PERSISTENCE TO HEADLINE INFLATION