By Brian Stelter, Andrew Kirell, CNN
(CNN) — The state attorneys general suing to block Paramount’s acquisition of Warner Bros. Discovery, CNN’s parent company, have reached a settlement, moving the companies closer to completing the merger, according to sources involved in the negotiations.
Paramount and Warner now expect the $110 billion media merger to take effect in early October, one source said.
In exchange for the states dropping their antitrust lawsuit, Paramount will make various commitments, including releasing 30 films per year in theaters and establishing a news editorial independence board for CNN and CBS News.
The settlement will clear the way for Paramount CEO David Ellison to dramatically expand his media empire, with help from his father, Larry Ellison, the billionaire Oracle co-founder.
The merger has been politically fraught in part because Larry is a longtime ally of President Donald Trump and David has cultivated close ties to the Trump White House as he’s pursued opportunities to turn Skydance, his relatively small production company, into a global media giant.
The merger is one of the largest in US history. It is financed with the help of sovereign wealth funds from Saudi Arabia, Qatar and Abu Dhabi that will indirectly own just under a 50-percent equity stake in the merged Paramount–WBD. Trump’s FCC recently approved Paramount’s request to exceed the standard 25-percent cap on foreign broadcast ownership.
The Writers Guild of America has also agreed to drop its lawsuit blocking the merger.
This is a developing story and will be updated.
The-CNN-Wire™ & © 2026 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.
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