Paramount has reached a settlement with a group of state attorneys general, according to people familiar with the matter, an agreement that clears the way for an $81 billion merger with Warner Bros. Discovery poised to reshape Hollywood.
As part of the agreement, the company behind hits like “The Godfather,” “Top Gun,” “South Park” and “Yellowstone” will avoid having to sell cable channels, the people said. The final terms of the deal couldn’t immediately be learned.
Settling the suit effectively removes the most serious remaining hurdle to the deal closing. The question of whether Paramount would be able to close its transaction has hung over the media and entertainment industry since Chief Executive David Ellison won a fraught bidding war against Netflix to buy Warner Bros. in February.
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