Paramount settles lawsuit over Warner Bros. Discovery merger

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Paramount Skydance settled with a group of state attorneys general that sued on antitrust grounds to block its proposed merger with Warner Bros. Discovery, clearing a major hurdle to completing the biggest merger in Hollywood history. "This is a court-enforceable settlement that addresses those concerns by providing more film production, that protects Hollywood workers and their livelihoods, that places guardrails allowing for robust cable negotiations, that protects competition and creates more choice for consumers about what this merger could mean for the industry," California Attorney General Rob Bonta said at a press conference. As part of the settlement, Paramount agreed to keep its operations in California and committed to not sell the Paramount Studios or Warner Bros. lots in the state for at least five years. Paramount will also invest at least $1.5 billion in U.S. film production over five years and is obligated to release at least 30 movies for theatrical distribution p