Paramount settles state lawsuit over Warner Bros. Discovery merger, clearing path for $81 billion deal

Skydance-owned Paramount reached a settlement on Monday with a group of state attorneys general who had sued to block its $81 billion acquisition of Warner Bros. Discovery. The settlement, confirmed by a person familiar with the matter, removes the final legal obstacle to the merger, which had been set for an antitrust trial in March. The states, including California and New York, had alleged the deal would reduce competition and harm consumers. Details of the settlement were not immediately available. Critics, including former FTC commissioner Alvaro Bedoya, condemned the deal, warning of job losses and higher prices.