Lates News

Paramount Skydance reached a settlement on Monday with the U.S. state of California and 11 other states, which had previously filed lawsuits to block the company's $110 billion acquisition of Warner Bros. Discovery (WBD.O), according to reports, paving the way for one of the largest media mergers in history. The California attorney general said at a press conference that the settlement includes bringing more film production back to the United Statesadding at least $300 million annually for domestic productionand agreeing to gradually increase the number of annual film releases after the deal closes. The agreement also includes that the company will produce 30 films per year in the first two years after the agreement, and 32 films per year in the following three years. At least four of these each year must be independent films, and at least 20% of the films must be blockbusters.