Rob Bonta

He also promised to create an independent sport for their news operations, CNN and CBS.

California Attorney General Rob Bonta says those concessions and more satisfy antitrust concerns.

Even so-

This settlement is not a vote of support for this merger.

Twelve states and the Writers Guild have settled a lawsuit challenging Paramount's eighty-one billion dollar buyout of Warner Brothers Discovery.

The suit was led by California State Attorney General Rob Bonta.

With today's settlement, Paramount is required to move production back to the United States by spending, as a floor, at least three hundred million dollars more each year.

Paramount has pledged to increase film production in the US and establish monitoring of editorial independence of the company's news operations.

Paramount has also promised to release 30 movies a year at the combined studios.

Here is California Attorney General Rob Bonta.

We have an, an array of guardrails and, um, accountability, uh, requirements that help ensure that there is delivery on, uh, all the commitments here in this, uh, consent decree that we just filed, uh, with the court.

And we are confident that, uh, the commitments made in the consent decree will be carried out.

That is California Attorney General Rob Bonta.

Now, Paramount has also agreed to keep its operations in Los Angeles, and the company will invest $1.5 billion in domestic film and TV production.

The expanded Paramount will control two of Hollywood's largest studios, as well as two major streaming services and dozens of TV channels.

Paramount has also promised to release 30 movies a year at the combined studios.

Here is California Attorney General Rob Bonta.

We have an, an array of guardrails and, um, accountability, uh, requirements that help ensure that there is delivery on, uh, all the commitments here in this, uh, consent decree that we just filed, uh, with the court, and we are confident that, uh, the commitments made in the consent decree will be carried out.

That is California Attorney General Rob Bonta.

Now, Paramount has also agreed to keep its operations in Los Angeles, and the company will invest $1.5 billion in domestic film and TV production.

The expanded Paramount will control two of Hollywood's largest studios, as well as two major streaming services and dozens of TV channels.

It's Tuesday, September 22nd.

Today, I'm joined by Dylan Byers to break down this week's big news, the Warner Brothers Paramount settlement, announced Monday by California Attorney General Rob Bonta, who is now getting slammed by Democrats for caving and letting David Ellison get most of what he wanted out of the deal.

Dylan and I talk about what's in the agreement, how Bonta miscalculated politically, and what the merger means for CNN.

We'll discuss all that and much more on today's episode of the Powers That Be.

That's I-N-T-E-R S-E-C-T-O-R-S, and listen wherever you get your podcasts.

[upbeat music] Happy Tuesday, everybody, and welcome to the Powers That Be.

I'm joined today by who else, Dylan Byers, in the wake of the news that the Warner Brothers Paramount merger is all but done after California Attorney General Rob Bonta came out and announced on Monday that they had reached a settlement.

They've got till October 1st to cinch this thing up before the ticking fees kick in, but that does seem likely.

The mega merger of Paramount's Skydance and Warner Brothers Discovery is now one step closer to completion.

California Attorney General Rob Bonta and a coalition of 11 other AGs agreed to settle their antitrust lawsuit against Paramount.

In the agreement, Paramount said it will spend an additional $1.5 billion on domestic film production over the next five years, distribute 30 movies a year in the first two years, and establish an editorial board to ensure the independence of CNN and CBS News.

Paramount's guidance chairman and CEO David Ellison says he expects to close the deal in two weeks.

And Brian, obviously, you know, these 12 attorneys general had sued to stop the merger.

We've had the one leading the charge from California, Rob Bonta, here on the show several times to talk about this.

What are the terms of the settlement that we know of?

Well, Paramount is staying put in California after weeks of buzz about a possible relocation out of the state, so Bonta can call that a win.

Paramount's guidance and a dozen states are selling a lawsuit that aimed to block its $110 billion merger with Warner Brothers Discovery.

California Attorney General Rob Bontas' Paramount made several concessions in the deal.

With today's settlement, Paramount is required to move production back to the United States by spending, as a floor, at least $300 million more each year in domestic production, in jobs and economic activity and productions right here in this country.

The settlement removes a major block to closing one of the largest media mergers in history.

Discovery.

So the antitrust lawsuit led by the California Attorney General Rob Bonta involving 11 states had been scheduled for trial in March 2027.

Reuters reports that the settlement would include independent editorial boards for CNN and CBS along with $30 million per film penalty if the merged company fails to release 30 theatrical films annually.

The agreement would also avoid a $7 million per day ticket fee that Paramount Skydance was set to owe Warner Bros.