Paramount reaches 12-state settlement over Warner Bros. Discovery merger; court approval reportedly pending

Variety reported on September 21, 2026, that Paramount reached a settlement with 12 state attorneys general over its planned Warner Bros. Discovery acquisition. A September 22 post said the judge had not yet approved the settlement and had scheduled a hearing on outstanding questions about the proposed consent decree.

Variety says Paramount committed to keeping operations in California, not selling the Paramount or Warner Bros. studio lots, investing an additional $300 million annually in U.S. film production and releasing at least 30 movies theatrically each year. It also describes a third-party, independent board intended to maintain CNN and CBS News’ editorial independence.

Variety reported on September 22 that CNN staffers were concerned about further changes to business plans, with one source describing the mood as “like a funeral.” The Hollywood Reporter reports that Kara Swisher said she was leaving CNN and called the Ellisons “terrible media owners.”