States Settle Lawsuit Over Paramount-Warner Merger

CHICAGO (AP) — Twelve states and Hollywood writers challenging Paramount’s buyout of Warner Bros. Discovery have agreed to settle their lawsuits against the mega merger. Monday’s announcement effectively paves the way for the $81 billion deal to cross the finish line, with some new commitments. The blockbuster deal will bring together two of Hollywood’s oldest studios, key TV networks like CBS and CNN and streaming platforms HBO Max and Paramount+. It also will consolidate as decades-old libraries with titles ranging from “Harry Potter” to “Top Gun.” The agreement calls for Paramount to increase domestic production and establish monitoring of editorial independence of the company’s news operations. The settlement still needs a final sign-off by a judge.