Paramount reaches settlement with state attorneys general over Warner Bros. merger lawsuit

Paramount Skydance has reached a settlement with California and 11 other state attorneys general who sued to block its acquisition of Warner Bros. Discovery, removing a major legal obstacle to the deal. 

The states had challenged the transaction on antitrust grounds, raising concerns about competition and consolidation in the film and television industries.

Under the settlement, Paramount agreed to commitments including theatrical film production requirements and measures related to editorial independence at CNN and CBS. The agreement still requires approval from a federal judge. 

The settlement significantly advances Paramount’s effort to complete its roughly $110 billion acquisition of Warner Bros. Discovery, after the transaction had already received approvals from several other regulators.