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CNN, already jostled by a series of corporate turnovers, faces a hazy future after Paramount won its bid to acquire Warner Bros. Discovery

Free speech and media advocacy groups urged a judge to block a California settlement with Paramount Skydance that would let the company finalize its $111 billion merger with Warner Bros. Discovery. Twelve states led by California sued to block the deal in July and were able to delay it when US District Judge Araceli Martínez-Olguín ruled that Paramount combining with Warner Bros. would likely reduce competition substantially and violate antitrust laws. Despite that initial victory, California Attorney General Rob Bonta announced a settlement with Paramount earlier this week and the other states involved in the lawsuit signed on to the deal. Martínez-Olguín must decide whether to approve the settlement. A coalition of free speech and media advocacy groups told the judge in a filing yesterday that the deal will give residents of the states that sued Paramount "virtually nothing." The filing was submitted by the Committee for the First Amendment, Free Press, Freedom of the Press Foundation, Future Film Coalition, and International Documentary Association. Read full article Comments

Paramount has reached a settlement with California and the 11 other states that sued to block its planned $110 billion acquisition of Warner Bros. Discovery. The settlement removes a major roadblock standing in the way of the massive media merger. According to the proposed consent decree filed with the court, it includes requirements like minimum numbers of theatrical film releases over the next five years, starting with 30 in year one and two, and 32 in the following years, and a commitment to spend at least $300 million more on production in the US compared to what the companies spent in 2025. It also has rules for the negotiations over … Read the full story at The Verge.

California and Paramount Skydance have reportedly reached a settlement allowing the company to complete its $111 billion merger with Warner Bros. Discovery. The settlement, which will reportedly be announced later today, drew condemnation from Democrats and media advocates. "The Paramount/Warner Brothers merger seems facially illegal, and the state AG lawsuit challenging it is very strong," Lina Khan, who chaired the Federal Trade Commission during the Biden administration, wrote yesterday. "It’s troubling to hear that the states may now settle for behavioral remedies, allowing the deal to go through subject to various promises from the firms. Behavioral remedies routinely fail, and the stakes here are particularly high given that a strong democracy requires open markets for sound journalism and creative expression." After news of advanced settlement talks was reported over the weekend, Bloomberg reported today that Paramount reached an agreement with California and other states that sued to block the merger. "Settlement talks came to fruition over the weekend after four states that had opposed terms of a deal outlined with California conceded," Bloomberg wrote, citing a person familiar with the matter. Read full article Comments