Paramount settles lawsuit blocking $110 billion Warner Bros. merger

Paramount has reached a settlement with California and the 11 other states that sued to block its planned $110 billion acquisition of Warner Bros. Discovery. The settlement removes a major roadblock standing in the way of the massive media merger.

> Paramount Chairman & CEO David Ellison:

> 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. 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. We’re confident this agreement does exactly that, memorializing a series of commitments that include 30+ films annually and expanded U.S. film production to help revitalize our industry here at home.