The Economic Times

Paramount Skydance settles with 12 states, clearing hurdle to $110 billion Warner Bros deal

Paramount Skydance has settled with California and 11 other states that sued to block its proposed $110 billion acquisition of Warner Bros Discovery, removing a major US antitrust hurdle to the deal. Under the settlement, CNN and CBS would get independent editorial boards, while Paramount would face a $30 million penalty per film for falling short of its commitment to release 30 movies annually. The deal still faces remaining regulatory and closing steps, with Paramount also seeking to avoid a $7 million-a-day fee tied to delays beyond September 30.