Paramount Skydance is moving closer to the finish line of its yearlong pursuit of Warner Bros. Discovery as the company’s weekend settlement negotiations with the state attorneys general reach a critical stage.
\n\nMeanwhile, opponents of the merger are rallying to protest what it warns is shaping up to be a “cave” by the 12-state coalition that has sued to block the Paramount-Warner Bros. on antitrust grounds.
\n\nThe federal lawsuit filed in July by 12 states, including California and New York, is the last obstacle that Paramount has to clear to close the $110 billion acquisition agreement that it reached in late February. Paramount is on the hook to pay WBD shareholders an additional $7 million a day as of Oct. 1 if the deal is not closed, hence the urgency for Paramount. Sources familiar with the situation said the negotiations with the state AGs, by Bonta, appeared to be moving in a positive direction.
\n\nThe sides were expected to be in communication Sunday but will pause by evening for the Yom Kippur holiday if the sides have not yet come to an agreement.
\n\nAs talks between the two sides continue — with the expectation that the situation could come to…
Original source: https://variety.com/v/tv/