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Bloomberg News is reporting that Paramount has come to terms for a settlement with the 12 States that were suing over their takeover of AEW broadcast partner Warner Bros. Discovery.
Variety, in confirming the report, noted, "Details of the agreement have yet to be made public. But the two sides spent the weekend in tense discussions over Paramount’s commitments to remain in California and over its production levels. The discussions also focused on editorial oversight of CBS and CNN, a key concern for East Coast attorneys general."
A trial over the situation was set for March 2027, but the true issue for Paramount was that in their dealings to overtake Netflix's announced takeover of WBD, they agreed to pay a penalty if they did not close the deal by 10/1. They would have been paying a fortune just to keep treading water until the trial took place if they did not come to terms with the 12 Attorney Generals leading the charge.
Paramount had threatened to leave California to headquarter in another State, which would have had disastrous results for Los Angeles jobs.
An official announcement is expected.
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