Paramount Resolves Antitrust Lawsuit, Paving Way For Warner Bros. Deal

Paramount has disclosed the full terms of its antitrust settlement with 12 state attorneys general, clearing the way for its Warner Bros. Discovery takeover. Key commitments include a $300 million annual increase in U.S. film production and releasing at least 30 theatrical films yearly. Both the Paramount and Warner Bros. studio lots must remain operational through 2031. A News Editorial Independence Board will oversee CNN and CBS News. The merged company must contribute $47.5 million to a workforce fund for laid-off employees. The WGA separately secured a five-year ban on writer layoffs at CBS News. Penalties for non-compliance include asset divestitures. CEO David Ellison credited California Attorney General Bonta and Governor Newsom for supporting a resolution. The settlement requires judicial approval and runs through December 31, 2031.