Paramount reaches settlement with 12 states over Warner Bros. acquisition
Paramount and 12 US states announced a settlement over the proposed Warner Bros. Discovery acquisition on September 21, 2026. Production and worker commitments would apply, subject to court approval.
In short
- Paramount and 12 US states announced a settlement over the proposed Warner Bros.
- Discovery acquisition on September 21, 2026.
- Production and worker commitments would apply, subject to court approval.
Paramount Skydance and a coalition of 12 US state attorneys general announced a settlement on September 21, 2026, aimed at resolving the states’ challenge to Paramount’s proposed acquisition of Warner Bros. Discovery. The agreement still requires court approval, California Attorney General Rob Bonta’s office said.
The states sued in July, arguing that combining the companies could reduce competition, limit film output and raise prices. The settlement sets production and distribution obligations intended to address those concerns; its announcement does not mean the acquisition has closed.
According to the California announcement, the combined company would release at least 30 films annually in the first two years and 32 annually in the following three. It would also commit at least $1.5 billion in additional US film-production spending over five years and establish a $47.5 million workforce fund.
Other provisions cover separate negotiations for the companies’ basic cable channels, news editorial independence and an independent compliance monitor. Bonta said the settlement addressed the states’ antitrust concerns while stopping short of endorsing the merger itself.
