Paramount and California AG Bonta Reportedly in ‘Advanced Talks’ to Settle Antitrust Suit - Variety

Paramount Skydance, led by David Ellison, is reportedly in "advanced talks" with California Attorney General Rob Bonta to settle a 12-state antitrust suit blocking its takeover of Warner Bros. Discovery, according to a Wall Street Journal report citing anonymous sources.
One discussed compromise involves Paramount operating the two companies' movie studios separately for a period rather than merging them immediately, though the talks remain ongoing with no guarantee of an agreement.
Bonta has previously characterized running the companies separately under common ownership as merely a "behavioral" remedy, stating he wants a structural remedy involving separate ownership.
Reuters reported a settlement could come as soon as this weekend, with potential terms including independent content monitoring of CNN and a Paramount commitment to a set number of theatrical releases; Ellison has pledged the combined company would release more than 30 films annually.
A trial is scheduled for March 2027, and Paramount has asked that the 12 states and the Writers Guild of America post a $1.88 billion bond to cover losses from a "ticking fee" owed to WBD shareholders, starting Oct. 1 at $7 million per day, with a hearing on the bond motion set for Sept. 24.
Ellison's $111 billion deal for Warner Bros. Discovery is partly financed by his father, Larry Ellison, and a sovereign wealth fund, while representatives for both Paramount and Bonta's office declined to confirm details of the reported settlement talks.