Davis Polk represented Universal Pictures in a court proceeding related to 70 year old consent decrees governing motion picture distribution (sometimes referred to as that “Paramount Decrees”).  In 2018, the DOJ Antitrust Division announced review of legacy antitrust judgements due to changes in industry structure, as well as the evolution of antitrust law and economics.  Following a 60-day notice and public comment period, the DOJ moved the district court with jurisdiction to immediately terminate Decrees with a two year sunset period.  In August 2020, the district court granted the motion. See Federal Court Terminates Paramount Consent Decrees, DOJ, August 7, 2020.

The Davis Polk team advising Universal Pictures was led by Arthur J. Burke.

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