Paramount settles antitrust suit, clearing way for Warner Bros merger

moviesSep 21, 2026342,535

Paramount Skydance settled Monday with a group of state attorneys general led by California Attorney General Rob Bonta, removing the last major legal hurdle to its reported $110 billion acquisition of Warner Bros. Discovery. The lawsuit had been set for trial in March and would have kept the deal in limbo through mid-2027; details of the settlement have not been made public. Reuters told CNBC the agreement includes court-enforceable independent editorial boards for CNN and CBS and a $30 million penalty per film if Paramount fails to meet CEO David Ellison's pledge to release 30 movies annually. The merger would combine Paramount and Warner Bros. Discovery’s film studios, TV networks, broadcast network CBS, and streaming services Paramount+ and HBO Max; U.S. and other international regulators had already approved the deal. Paramount had told investors it expected to close by September 30 and faced a ticking fee that would have added roughly $650 million per quarter to the transaction after that date. The Writers Guild of America and many Hollywood creatives had sued or publicly opposed the deal, and industry figures warned mergers historically reduce annual film output and risk job losses in California.

Karl Bode

@karlbode.com

for your future voting knowledge, Gavin Newsom was central in pressuring the AGs to settle their antitrust lawsuit against Paramount:

17914h ago

Karl Bode545

what happens next? what always happens. Paramount moves forward, and pays down the massive deal debt with massive layoffs, price hikes, and corner cutting resulting in lower quality products. At which point guys like Newsom, and other folks who pushed for settlement, will be nowhere to be found.

Serenity Now!101

They didn’t even bother to drag their feet on this til after the midterms. Newsom’s political instincts are garbage. Maddening.

Andy 🏔️28

Normie Democrats yearn for the days when all their problems could be solved by a toothless oversight committee.

8647th Aerial Sandwich Brigade25

Gavin will never be President, as much as he wants to be.

whykiki.bsky.social25

He always sides with money.

James Belcher21

Corrupt, homeless-hating transphobe Gavin Newsom would deliver more of the same neoliberal policies that made fascism viable. He's part of the problem, not the solution.

Quoting this

public health guy82

newsom is also the reason why you still can’t sue AI executives and companies for the harms caused by their models

Nic McConnell54

I repeat - there will never be a valid reason to vote for Gavin Newsom in a presidential election

Ipsita Chatterjea (she/her)8

This is who Newsom is. He vetoed legislation that would have banned caste-based discrimination. Whatever his occasional performances as a defender of democracy, he always demonstrates to Silicon Valley that he is their boy, always willing to service them and serve others up to them.

Mr Fengi6

Never ever vote for Gavin Newsom and anyone who says otherwise is a fool or oligarch patsy or both.

calizaybak.bsky.social6

He really is the worst.

Jon Tayler (Jon Tayler’s Version)5

The glee I'm going to take at Newsom finishing like eighth in the South Carolina primary is going to be positively unholy

Follow the Minnesota 1st4

Once again I am asking you to say "fuck Gavin Newsom".

Chris ❤️‍🔥🏳️‍🌈🏳️‍⚧️ 🏴4

Yet another utterly feckless move by Governor Patrick Bateman. 😑

Princess Laura4

Gavin Newsom will never be president.

SMD4

probably one of the most defining things about bluesky is how many people got mad over criticism of this fella. good job everyone blocked everyone in the aftermath so we won't see that discourse again.

David Dayen

@ddayen.bsky.social

Here's our story on Rob Bonta's disappointing settlement of the Paramount-Warner Bros merger. Just an awful decision. prospect.org/2026/09/21/b...

1834h ago

Ken MacLennan7

what the actual fuck, @robbonta.bsky.social

George6

Narrator: Skydunce will leave California anyway

Demomom3

It blows my mind that CA can’t have a squadron of Mamdani clones - our mayors in the big cities are disappointing as are most of our other politicians - and the new governor will likely be just as sketchy as Newsom

townhell.bsky.social2

It's not just Bonta -- it's also Weiser (CO) & James (NY). Perhaps they got sour advice from outside council and trying to maximize deal before 10/1, when Paramount starts paying $7m/day to Warner. Potential loss of leverage seems minimal. Nor are the states in any way risking liability. Bad advice

Chris Wark1

Proof that calling yourself a Democrat doesn't guarantee that you give a shit about democracy.

Paul Hikari1

You want to give Bonta a piece of your mind? Here’s his contact page, folks. oag.ca.gov/contact/gene...

Quoting this

Will Stancil199

Completely insane decision. Even if you're afraid of Paramount somehow retaliating, drag it out for another 45 days, because the whole world is going to change come November 3.

29 U.S.C. § 1572

Rob Bonta clearly has aspirations of higher office, but he just flushed them all down the toilet

Mathew Buck

@filmbrainbmb.bsky.social

I would like to point out that mergers with Warner Bros. seldom work out well for the company buying them...

1094h ago

Nash24

Ellison is already leveraged to his eyeballs, Oracle's a disaster waiting to happen, I have no idea what is going through these people's heads.

Stuart Kenny7

Yeah, how long will it be before Paramount Skydance suddenly realises "OH FUCK, OH FUCK FUCK FUCK" when it turns out to be a massive money pit they can't control? Warner's bad luck with conglomerates owning them goes all they way back to Kinney Leisure bought them out in 1969.

JoJo Walker6

I still don't think this merger will happen.

jort-hk.bsky.social2

The goal is a short term propaganda machine, and to make a lot of money for making these deals happen. They don't give a shit what happens to the companies or the people under them.

Not Steve Jortles1

Netflix is just biding its time until both of them go bankrupt, and pick up the pieces.

Michael Flinn1

Owners come and owners go but WARNER BROS ARE FOREVER.

NPR

@npr.org

Paramount's owners have made concessions to 12 Democratic state attorneys general to settle a lawsuit that endangered the media company's bid for its larger Hollywood rival, Warner Bros. Discovery. n.pr/4yaUT42

813h ago

Another Josh Smith22

The only concession anyone should consider is that the merger violates antitrust laws

What Fresh Hell Is This?8

DEM AGs have lost their damn minds. What recourse will they have when the agreement is ignored?

Part-Time Fanboy4

Wow. That headline, NPR. What's going on with you? Acting like Paramount lost something here to mislead readers into thinking something good happened here for consumers and workers. Bad form. What's happened to you?

Jay from Quahog4

Billionaires WIN Again, film at 11

Hal Carver2

I don’t understand what kind of concessions the attorneys general could’ve made? The whole point of the merger is to take another step in destroying freedom of the press. How the hell could any attorney general be for that? Unless they pay enough $ to bankrupt the Ellison family this is a mistake

Dayle Ohlau2

…in the United States of America, money rules, and always wins. #Greed #Corruption #Profit

Out of Context Simpsons Couch Gags

@ooccouchgags.bsky.social

Bet you that Universal, Sony, Netflix, Lionsgate, Amazon or Apple will be buying Paramount and Warner Bros within a year or two once this merger between the two ends badly

694h ago

Kee The Tom and Jerry Guy4

Netflix would be the funniest option after all this. They back out, let Paramount take the brunt of the debt and pick up the scraps for cheap...

67 rizz2

didnt we learn anything from disney monopolising shit?

H. John Tran

@johnhtran.bsky.social

I’m against this merger. And it just moved much closer to happening. CBS. CNN. Warner Bros. Major streaming assets — one owner. That’s too much control over what people watch, what gets made, and how news reaches them. This isn’t just consolidation. It’s concentrated cultural power.

364h ago

James Whitbrook

@jwhitbrook.bsky.social

Today's newsletter is some thoughts on the reported conclusion of the antitrust suit against Paramount and Warner Bros.' merger, and how it's embarrassingly bad news for pretty much everyone involved

274h ago

The Contrarian

@contrariannews.org

The Paramount-Warner Bros. merger would almost certainly lead to thousands of job cuts as the companies cut redundancy in the executive ranks. More on the harmful merger:

253h ago

Will McKinley

@willmckinley.bsky.social

A merged Paramount Warner Bros. will be half-owned by “some of the most repressive governments in the world." “An investment this large in one of America’s biggest media companies doesn’t just buy equity, it secures influence over what gets said and what gets made.” arstechnica.com/tech-policy/...

234h ago

Will McKinley16

Trump's FCC broke 92 yrs of regulatory precedent to ok Paramount WB’s half ownership by repressive monarchs. Rules in place since 1934 prevent foreign investment of 25% or more in US broadcasters, but FCC chairman Carr determined this to be in the “public interest." www.latimes.com/entertainmen...

joecorey3rd.bsky.social1

It's all going to collapse with debt upon debt upon debt

Quoting this

Jo2

@governor.pa.gov Please think twice before signing off on this merger.

Pop Crave

@popcrave.com

Paramount reaches a settlement with the 12 states suing over its Warner Bros. merger and can move forward with the deal. An official announcement is expected later today.

224h ago

Beans1

I guess my boycott strength will truly be tested in 2027😔

Quoting this

SW🍜❤️💚 🇲🇽 [COMMISSIONS OPEN 0/5 SLOTS]4

This is just pathetic man.

Lisa2

this is very bad and any AG who settled this bs needs to be removed from office

Karly Kingsley

@karlykingsley.bsky.social

CT AG William Tong says Paramount agreed to a court enforceable editorial board meant to keep CNN and CBS News independent after the Warner Bros./Paramount deal after Paramount refused any such protections last week. What interesting timing considering the current WH ban.

202h ago

Michael J. Stern

@michaeljstern.bsky.social

The deal reached will, according to California’s Attorney General, allow CBS’ news to maintain its editorial independence. The problem is that CBS news has not been editorially independent since Bari Weiss took over. edition.cnn.com/2026/09/21/m...

152h ago

Deborah Lynn

@mrsdeborahlynn.bsky.social

www.reuters.com/legal/litiga... Paramount Skydance has settled with California and 11 other states that sued to block its $110 billion acquisition of Warner Bros Discovery. This is one of the last big hurdles to closing a deal that would reshape Hollywood.

84h ago