Key facts
- Paramount Global has settled antitrust litigation with 12 US states.
- The settlement clears a major hurdle for Paramount's proposed $110 billion merger with Warner Bros. Discovery.
- California Attorney General Rob Bonta announced the settlement, noting it secured commitments to protect competition in film, television, and broadcasting.
- Paramount must release at least 30 films each year under the agreement.
- Paramount's CEO, David Ellison, stated the settlement provides complete clearance for the merger.
Paramount Global has settled antitrust litigation with 12 US states, removing a significant obstacle to its proposed $110 billion merger with Warner Bros. Discovery. The settlement, announced by California Attorney General Rob Bonta, aims to protect competition across film, television, and broadcasting.
Under the agreement, Paramount must release at least 30 films each year. Bonta stated that while the settlement addresses competition concerns, it is not an endorsement of the merger itself. David Ellison, CEO of Paramount, hailed the settlement, saying it provides complete clearance for the merger and allows the company to move forward with its commitments.
The lawsuit had raised concerns over competition in film and television distribution. Paramount had previously denied claims that the deal would reduce competition, arguing it would benefit consumers. The settlement is expected to help boost film production in the US.