Gavin Newsom Insists He Didn’t Pressure Rob Bonta Into Paramount Settlement
The California governor applauds his state attorney general for getting the work done "at the boardroom, not the courtroom" The post Gavin Newsom Insists He Didn’t Pressure Rob Bonta Into Paramount Settlement appeared first on TheWrap .
California Governor Gavin Newsom stated on Wednesday that he did not pressure Attorney General Rob Bonta into settling with Paramount over the $110 billion Warner Bros. Discovery merger. Newsom reiterated his stance, which has been publicly consistent, and emphasized the importance of focusing on boardroom negotiations rather than legal battles.
Bonta and 11 other state AGs reached a settlement with Paramount ahead of a 2027 trial, avoiding potential fees and enabling the merger to proceed within two weeks. Paramount CEO David Ellison assured California officials that the studio headquarters would remain in the state. The settlement, approved by U.S. District Judge Araceli Martínez-Olguín, mandates at least $300 million in annual domestic TV and film production investment, rising to $1.5 billion over five years.
Paramount committed to producing 30 films annually for the first two years, increasing to 32 each year after, with a minimum of four independent films and 20% blockbusters per year, subject to a potential federal film tax credit. Additionally, the combined entity must establish an editorial board to ensure the independence of CNN and CBS News, renegotiate cable packages separately for five years, and preserve both studio locations.
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