Paramount settles lawsuits, clears path for $110B Warner Bros. acquisition

Paramount Skydance has settled antitrust lawsuits with a coalition of 12 state attorneys general and the Writers Guild of America, removing the final legal roadblocks standing between it and a $110 billion acquisition of Warner Bros. Discovery. The deal, which carries an equity value of $81 billion at $31 per share plus assumed debt, is now on track to close as early as October 2026. What Paramount agreed to The settlements, finalized on September 21, 2026, came after a legal push led by California Attorney General Rob Bonta. The states’ core concern was straightforward: a combined Paramount-Warner Bros. entity would wield enormous leverage over content production, distribution, and news media independence. Paramount made several concrete commitments to get the deal across the finish line. The company agreed to produce at least 30 films per year, with that number scaling to 32 by a future date. It also pledged $1.5 billion in California film and television production investment over a five-year period. Paramount also committed to maintaining editorial independence for CNN and CBS News. The attorneys general settlement still requires federal court approval, but there’s a powerful fi...