Paramount Skydance has agreed to settle with a group of 12 state attorneys general who sued to block its proposed $110 billion merger with Warner Bros. Discovery. The antitrust lawsuit threatened to delay the acquisition until mid-2027, which would have cost Paramount hundreds of millions of dollars in fees.
Now, with the acquisition proceeding, Paramount and Warner Bros. Discovery will combine to bring together two historic portfolios of TV networks including CBS, as well as streaming services Paramount+ and HBO Max. The deal previously won approval from the U.S. and other international regulators.
While details of the agreement have yet to be publicized, it is believed that the settlement includes the creation of independent editorial boards for CNN and CBS, as well as a $30 million penalty per film if Paramount falls short of its commitment to release 30 movies annually.
