Paramount has reached a deal with 12 state attorneys general that removes a major obstacle to closing its acquisition of Warner Bros. Discovery.
\n\nThe deal comes just before the company was to begin accruing a $7 million daily “ticking fee” on Oct. 1, which was seen as an important milestone in the case. Bloomberg was first to report the news, followed by the Wall Street Journal. A source also confirmed to Variety that a deal is done.
\n\nThe merger was on hold pending the outcome of the states’ antitrust lawsuit, which was set for a trial on March 2, 2027. The $111 billion merger is the largest in Hollywood history.
\n\nDetails of the agreement have yet to be made public. An official announcement is expected to come later Monday. The two sides spent the weekend in tense discussions over Paramount’s commitments to remain in California and over guarantees for its production levels. The discussions also focused on editorial oversight of CBS News and CNN, a key concern for East Coast attorneys general. Sources said the settlement does not require Paramount to make any major divestitures.
\n\nCalifornia Attorney General Rob Bonta led the 12-state coalition, which sued to block the deal…
Original source: https://variety.com/v/tv/