Paramount Skydance reaches antitrust deal with states over Warner Bros. Discovery purchase

Updated on: September 21, 2026 / 2:03 PM EDT / CBS News

A group of U.S. states has reached a deal with Paramount Skydance that addresses antitrust concerns over the media and entertainment company's $110 billion acquisition of Warner Bros. Discovery.

The deal with a coalition of 12 state attorneys general clears the way for Paramount, the parent company of CBS News, to complete its purchase of Warner Bros. Discovery.

"This settlement is not a vote of support for this merger," said California Attorney General Rob Bonta at a press conference on Monday to announce the agreement.

The agreement includes pledges from Paramount to invest in domestic film production, Bonta said. The media company will invest $300 million per year in domestic production, including a pledge to produce 30 films in each of the first two years after the merger.

Paramount has also agreed to establish an independent board to "ensure independent objective fact-based reporting at CBS News and CNN," Bonta said.

Additionally, the merged company must commit to separate negotiations for the distribution of basic cable channels owned by Paramount and Warner Bros. for a period of five years.

Under the settlement, a committee of five states will monitor…

Original source: https://www.cbsnews.com/entertainment/