Paramount CEO David Ellison says the company has cleared a major legal obstacle in its planned acquisition of Warner Bros. Discovery, bringing the deal closer to completion.
On September 21, Paramount Skydance reached a settlement with California and 11 other states that had filed an antitrust lawsuit seeking to block the merger. The agreement resolves one of the biggest remaining challenges facing the transaction.
Ellison thanked California Attorney General Rob Bonta, other state attorneys general, the Writers Guild of America, and California Governor Gavin Newsom for helping reach the settlement.
He said the agreement includes several commitments intended to support workers, consumers, and the entertainment industry, including producing more than 30 films annually and expanding film production in the United States.
According to Ellison, competition authorities in nearly 70 jurisdictions worldwide have already approved the transaction. With the concerns raised by the state attorneys general and the WGA now addressed, he said Paramount has “complete clearance” to move forward with the merger.
Ellison said combining Paramount and Warner Bros. Discovery is intended to create more opportunities for creators, increase entertainment choices for audiences, and strengthen competition within Hollywood.
Following the settlement, the acquisition has cleared a significant legal hurdle, with the final transaction expected to close in October 2026.