Sept 21 (Reuters) – Paramount Skydance has reached a settlement with California and other states suing to block its $110 billion merger with Warner Bros Discovery, Bloomberg News reported on Monday, citing a person familiar with the matter.
Settlement talks came to fruition over the weekend after four states that had opposed terms of a deal outlined with California conceded, the report said. The settlement is expected to be announced later today, Bloomberg added.
Paramount Skydance and Warner Bros Discovery did not immediately respond to Reuters requests for comment.
The settlement would clear one of the final hurdles to the companies’ merger, paving the way for one of the largest deals in Hollywood history.
The Wall Street Journal reported over the weekend that Paramount and California’s attorney general have discussed a range of concessions in advanced settlement talks, including a $1.5 billion investment in production in the state.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Devika Syamnath)
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