Paramount settles states' antitrust suit over $111bn Warner Bros. Discovery deal, clearing path for merger

California AG Rob Bonta and Paramount Skydance CEO David Ellison reached an agreement to end the state's antitrust fight, clearing the way for Ellison to complete his $111 billion purchase of Warner Bros. Discovery, per the LA Times. Under the deal Paramount won't have to sell cable channels; it had discussed concessions including a $1.5 billion investment in California production. Warner Bros. Discovery shares rallied about 10% to a record high.

Detected & updated continuously · Source: Nebula