Paramount settles with 12 states, clearing $110B Warner Bros deal hurdle

Paramount Skydance has settled with 12 state attorneys general over lawsuits challenging its $110 billion acquisition of Warner Bros. Discovery, California Attorney General Rob Bonta announced Monday. The deal includes independent editorial boards for CNN and CBS and a $30 million penalty per film if Paramount falls short of releasing 30 movies annually. Paramount shares rose over 8%, Warner Bros Discovery over 10%.