Key facts
- Paramount and states are discussing terms including independent monitoring of CNN and a commitment to theatrical film releases.
- A settlement between Paramount and states over the Warner Bros. Discovery acquisition could be reached as soon as this weekend or Monday.
- California Attorney General Rob Bonta canceled a meeting with Paramount, accusing the company of leaking settlement discussions and misrepresenting them.
- Paramount denied leaking confidential discussions and stated its commitment to good faith discussions.
- The states are seeking to block the merger, arguing it would create a media behemoth that could raise prices and reduce competition.
- Paramount insists the deal is pro-competitive and that opponents are driven by political concerns.
Paramount Global is in discussions with a coalition of state attorneys general regarding a potential settlement to resolve a lawsuit that challenges its $110 billion acquisition of Warner Bros. Discovery. According to sources, key terms under consideration include independent monitoring of CNN's operations and a commitment from Paramount on the number of films it will release theatrically.
A settlement could be reached as early as this weekend or Monday. However, California Attorney General Rob Bonta recently canceled a scheduled meeting, accusing Paramount of leaking settlement discussions and misrepresenting them, thereby demonstrating a lack of good faith. Paramount denied being the source of any leaks and expressed its readiness to continue good faith discussions.
The states, led by California, are attempting to block the merger, arguing it would create a dominant media company that could lead to higher prices and reduced competition in film and television markets. They have dismissed Paramount's pledge to release 30 films annually as unenforceable. Paramount, however, maintains that the deal is pro-competitive and that its opponents are motivated by political concerns, including the potential change in CNN's ownership.