Paramount and state AGs settle lawsuit
Written by laserteam on September 21, 2026
(CNBC) – Paramount Skydance’s $110 billion merger with Warner Bros. Discovery will move forward as the company settled Monday with a group of state attorneys general that sought to block the deal on antitrust grounds.
The lawsuit, brought by a group led by California’s Rob Bonta, was previously set to head to trial in March and would have left the deal in limbo through mid-2027.
“We are grateful to Attorney General Bonta and his fellow AGs, as well as the WGA, for engaging in good faith to find a path forward to a resolution that serves all parties, and to Governor Newsom for his support throughout this process,” Paramount CEO David Ellison said in a statement Monday. “Our shared aim was an outcome that best serves consumers, workers and — most importantly — the creative community so vital to the art of visual storytelling.”
Ellison told employees that the company is looking to close in about two weeks, according to a memo obtained by CNBC.
The acquisition will bring together two storied film studios, Paramount and Warner Bros. Discovery; a portfolio of TV networks; broadcast network CBS; and two popular streaming services in Paramount+ and HBO Max. The agreement Monday follows backlash from not only the state officials, but also the Writers Guild of America union and prominent actors and directors, who shared concerns about the effects on the U.S. film industry and creative roles.
