Paramount settles with California, other states over Warner Bros merger: Report
The settlement removes a major antitrust hurdle and adds production and editorial safeguards as the combined company moves toward closing.
- On Monday, September 21, 2026, Paramount Skydance settled antitrust lawsuits with 12 states led by California Attorney General Rob Bonta and the Writers Guild of America, clearing the final major hurdle for its $110 billion acquisition of Warner Bros. Discovery.
- In July, Bonta and a coalition of 11 other states sued to block the merger, alleging the combined company would violate the Clayton Antitrust Act by extinguishing competition in theatrical distribution and cable markets.
- The settlement requires the merged entity to release 30 films annually for two years, then 32 thereafter, and invest at least $1.5 billion in domestic production over five years. Paramount must also establish a News Editorial Independence Board for CBS News and CNN.
- Paramount avoids paying a $7 million daily ticking fee owed to Warner Bros. Discovery shareholders past the October 1 deadline, though the agreement still requires final approval from a federal judge.
- Critics remain skeptical the News Editorial Independence Board will prove effective, citing past failed attempts at similar structures. The company must also pay $47.5 million into a workforce fund for employees displaced by the merger and submit to independent monitoring.
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781 Articles
Dan Walters: Rob Bonta’s Cave on Paramount-Warner Deal Fits California’s History of Corporate Surrender
[Noozhawk’s note: We republish news articles and commentaries from CalMatters on state and local policy issues that affect Santa Barbara County readers.] The deal that state Attorney General Rob Bonta made last week to allow the $111 billion merger of entertainment media powerhouses Paramount Skydance and Warner Bros. Discovery has a familiar ring. It’s the latest episode of California […]
CalMatters Commentary: Bonta’s cave on Paramount-Warner fits California’s history of corporate surrender
The deal that California Attorney General Rob Bonta made this week to allow the $111 billion merger of entertainment media powerhouses Paramount Skydance and Warner Bros. Discovery has a familiar ring.
California’s Grand Mirage: The Antitrust Settlement That Only Patches the Media Consolidation Wound
California’s antitrust settlement with Paramount, Skydance and Warner Bros. Discovery is a cosmetic fix that leaves media consolidation unchecked. The post California’s Grand Mirage: The Antitrust Settlement That Only Patches the Media Consolidation Wound appeared first on .
The purchase of Warner by Paramount advances with new commitments for cinemas, studios, employees and production. Find out who wins and who loses.
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