California Attorney General Rob Bonta and Paramount Skydance chief executive David Ellison have reached an agreement to resolve the state’s antitrust challenge, clearing a path for Ellison to complete his $111 billion acquisition of Warner Bros. Discovery, multiple reports said today.
Paramount will resolve antitrust claims brought in late July by Bonta and 11 other state attorneys general. As part of the deal, Paramount has agreed to pay a penalty if it fails to meet commitments to release 30 films annually in theaters and invest $1.5 billion in Hollywood film production over the next five years.
The antitrust lawsuit threatened to delay the acquisition until mid-2027 and to cost Paramount hundreds of millions of dollars in fees.
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