Paramount settles lawsuit blocking $110 billion Warner Bros. merger

Paramount has settled a lawsuit with 12 US states, including California, that had sued to block its planned $110 billion acquisition of Warner Bros. Discovery. The settlement, announced by California Attorney General Rob Bonta, removes a major roadblock to the massive media merger.

As part of the agreement, Paramount has committed to releasing a minimum number of films annually. According to Bonta, this includes 30 movies in each of the next two years, followed by 32 movies in each of the next three years. The company has also pledged to increase domestic production if certain states pass film tax incentives.

The settlement does not imply support for the merger, Bonta said. Paramount Chairman and CEO David Ellison expressed gratitude to Bonta and his fellow attorneys general, stating that the settlement allows the company to move forward with its plans. The deal also includes commitments to support the editorial independence of CBS News and CNN.

Brief written by urgent.news from The Verge, Toronto Sun, BBC News, ABC News (US), Business Insider — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.