Paramount settles with states, clearing the path to Warner Bros. Discovery

Paramount reached a settlement with California and 11 other states in the merger-blocking antitrust suit, clearing the way for its $111 billion Warner Bros. Discovery acquisition. The deal mandates 30 theatrical films a year and an extra $1.5 billion in film production over five years, and lets Paramount keep its cable channels while negotiating pay-TV carriage as two separate companies. (Axios, AdExchanger)