Paramount Skydance is in advanced settlement talks with California over the Warner Bros. suit.
Why it matters: A settlement could clear a major state-level legal hurdle for the Warner Bros. deal.
- Variety reported Sept. 18 that Paramount Skydance and California AG Rob Bonta were in advanced settlement talks.
- California and 11 other Democratic-led states filed the antitrust suit July 13 to block the Warner Bros. Discovery acquisition.
- California's attorney general's office said settlement talks are confidential and would not confirm details.
- The DOJ antitrust division said June 12 it had closed its investigation and determined the deal was not likely to harm competition or American consumers.
Paramount Skydance is in advanced settlement talks with California Attorney General Rob Bonta over the state antitrust case challenging its Warner Bros. Discovery acquisition, according to Variety. The California attorney general's office said the talks are confidential and declined to confirm any details.
The lawsuit was filed July 13 by California and 11 other Democratic-led states to block the proposed merger. The Los Angeles Times reported in August that Bonta had canceled a planned mediation session, showing the settlement track had already been shaky.
The merger cleared federal review on June 12, when the DOJ antitrust division said it had closed its investigation and determined the deal was not likely to harm competition or American consumers. The DOJ statement said as much.
California's case is now one of the remaining state-level obstacles to closing the transaction. No public settlement filing or signed agreement has been released.
Yes, but: California's attorney general has not confirmed any deal, and no settlement filing has been made public.
What's next: Watch for any public settlement filing, court notice or confirmation from California officials.