Los Angeles — Paramount and Warner Bros. Discovery reach settlement clearing path for merger
State attorneys general have reached a settlement with Paramount over its proposed $110 billion acquisition of Warner Bros. Discovery, removing a significant legal obstacle to the transaction.
The agreement includes commitments involving theatrical movie production, studio operations in California and editorial independence at CNN and CBS News. Under the terms, the combined company would be required to release at least 30 films per year, with the total rising to 32 after two years.
Paramount would also make an additional $1.5 billion investment in domestic film production over five years. The settlement requires the company to keep Paramount’s Hollywood studio and Warner Bros.’ Burbank studio open.
The agreement also includes a proposal for an editorial independence board overseeing CNN and CBS News.
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