LionTree

WarnerMount Merger Faces Lawsuit and Political Scrutiny

Five private plaintiffs filed a federal lawsuit in San José seeking an injunction to block Paramount’s proposed acquisition of Warner Bros. Discovery (the so‑called WarnerMount deal) and to force Skydance to separate from Paramount. The suit, brought under the Clayton Act, alleges the merger would raise prices, reduce consumer choice, weaken news independence and reduce theatrical film output. California Attorney General Rob Bonta and a coalition of state attorneys are cited as potential powerful opponents. Separately, David Ellison sought FCC pre‑approval to let non‑U.S. investors increase voting rights to up to 20%, despite foreign investors already slated to hold about 49.5% of the combined company (roughly three quarters from Gulf-state funds). Ellison has investment commitments totalling roughly $24 billion from three sovereign funds (PIF, L'imad Holding, Qatar Investment Authority); Paramount holds $54 billion in credit commitments and the total transaction value including debt is about $111 billion. Senators and Democrats have signalled legislative and regulatory options to further scrutinize or reverse large deals.

Seedtag Raises Over €250M From Advent International - ExchangeWire.com

Seedtag, a contextual advertising provider in EMEA and LATAM, announced a funding round of over €250 million (about £211 million) from Advent International. The private equity investment will scale Seedtag's Contextual AI technology, LIZ, accelerate innovation, and fund global expansion, with a focus on growing in the United States and establishing offices in New York, Miami, Chicago, and Los Angeles. Seedtag emphasizes privacy-first contextual solutions and aims to deepen understanding of user interest without personal data. The deal follows the acquisition of KMTX (Keymantics) and previous funding from Oakley Capital, with existing investors Oakley Capital, Adara, and All Iron Ventures remaining. Co-founders Jorge Poyatos and Albert Nieto will continue leading the company from Spain and the US. Advisors include LionTree (financial), Kirkland & Ellis (legal), and Uría and CitiGroup (Advent advisors).

Verizon Media Sold to Apollo for $5B; Yahoo Rebrand

Private-equity firm Apollo Global Management, via Apollo Funds, will acquire Verizon Media for five billion USD, with Verizon retaining a 10% stake in the restructured entity. Verizon Media will be renamed Yahoo and continue to be led by CEO Guru Gowrappan. The deal encompasses Yahoo and AOL brands and is expected to unlock new growth across the portfolio, which collectively reaches about 900 million monthly active users. Goldman Sachs led the transaction for Verizon, with LionTree as consortium leader and Apollo Funds participating alongside. Verizon will receive 4.25 billion USD in cash and 750 million USD in Preferred Interests as part of the consideration. Apollo’s involvement is framed as enabling Yahoo to expand its full-stack digital advertising platform and pursue market opportunities with support from its new parent investor.