By Hannah Knowles, Miriam Waldvogel, Scott Nover, and Victoria Craw, washingtonpost.com, 9-21-26
Paramount Skydance has reached a settlement agreement with California and 11 other states that sued two months ago to block the company’s $110-billion merger with Warner Bros. Discovery, paving the way for a blockbuster unification of two Hollywood giants.
California Attorney General Rob Bonta announced the settlement at a Sept. 21 news conference in Los Angeles and said the deal would help boost local jobs and domestic movie production. But the agreement falls far short of the states’ original goal of preventing a merger they had called unlawful.
To move forward with the merger, Paramount agreed to spend at least $300 million more per year on production in the United States and to produce at least 30 movies in each of the next two years, and then 32 movies in each of the three years after that. It will also establish a board of journalists to ensure the editorial independence of CNN and CBS. » Read More