Just nowShareSaveAdd as preferred on GoogleFrancisco VelasquezBusiness reporter, New York
Getty ImagesParamount Skydance has settled a lawsuit with dozens of US states, removing a major hurdle to its $110bn (£82.8bn) merger with Warner Bros Discovery.
California Attorney General Rob Bonta told a news conference that state officials agreed to terms after securing commitments to protect competition across film and television, and broadcasting.
Still, “the settlement is not a vote of support for this merger,” Bonta said. “It is not a blessing of the broader merger.”
David Ellison, the company’s chief, has threatened to move studio operations out of California.
The settlement will help boost film production in the US, Bonta said.
Under the agreement, Paramount must release at least 30 films each year, he added.
The BBC has contacted Paramount for comment.
MediaUnited StatesCompetition lawCompaniesMergers and acquisitions
