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California AG Approves Paramount-Skydance-Warner Merger With Conditions

By Drooid · Sep 24, 2026, 6:06 PM UTC · How we work

Summary

Paramount Clears Merger

California Attorney General Rob Bonta announced a settlement clearing Paramount Skydance’s merger with Warner Bros. Discovery.
Paramount must spend an extra $300 million each year on U.S. film production for five years.
Paramount must release 30 movies annually for two years, then 32, with at least four independent and 20% tentpole titles.
Paramount shares rose about 8% and Warner Bros. Discovery shares jumped over 10% after the settlement.

Summary

Garland Leads Protest

Leah Garland led workers protest at Paramount’s Melrose gate on Sept. 22.
Mark Ruffalo urged fans on X to join protests, prompting a rally of about 1,000 in Oakland.
Justice Department backed Paramount’s request that opponents post a nearly $1.9 billion bond to block the merger.
L.A. City Councilman Adrin Nazarian warned the deal could let billionaire Ellison’s ties to President Donald Trump influence it.

History

Historical Context

In 1948 the U.S. Supreme Court ruled in United States v. Paramount Pictures that studios could not own theater chains, ordering the sale of about 1,200 cinemas and ending block-booking. The decree broke the classic studio system and preserved independent exhibitors. California’s attorney general now seeks a settlement forcing Paramount to invest $300 million annually and release 30 films, echoing the 1948 antitrust aim.

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Paramount Clears Merger

California Attorney General Rob Bonta announced a settlement clearing Paramount Skydance’s merger with Warner Bros. Discovery.
Paramount must spend an extra $300 million each year on U.S. film production for five years.
Paramount must release 30 movies annually for two years, then 32, with at least four independent and 20% tentpole titles.
Paramount shares rose about 8% and Warner Bros. Discovery shares jumped over 10% after the settlement.

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