Paramount Skydance’s $110 billion merger with Warner Bros. Discovery will move forward as the company settled Monday with a group of state attorneys general that sought to block the deal on antitrust grounds.
The lawsuit, brought by a group led by California’s Rob Bonta, was previously set to head to trial in March and would have left the deal in limbo through mid-2027.
Details of the agreement have yet to be made public. However, sources told Reuters that the settlement includes the creation of independent editorial boards for CNN and CBS and also stipulates a $30 million penalty per film if Paramount falls short of CEO David Ellison’s pledge to release 30 movies annually.
Spokespeople for Paramount and Bonta did not immediately respond to requests for comment.
The acquisition would bring together two storied film studios, Paramount and Warner Bros. Discovery; a portfolio of TV networks; broadcast network CBS; and two popular…
