A Deal is Reached

Paramount has reached a settlement with a group of state attorneys general, clearing a major hurdle for David Ellison’s massive $81 billion merger with Warner Bros. Discovery that is set to reshape the Hollywood landscape.

A dozen states, including California and New York, had previously filed an antitrust lawsuit attempting to block the high-profile media megadeal. Under the terms of the new agreement, Paramount will avoid being forced to divest or sell off its valuable cable channels.

The future of CNN and its direction remains murky.