Paramount Nears Settlement to Blockbuster Merger Drive

Paramount Pictures and California Attorney General Rob Bonta are in advanced talks to settle a lawsuit over Paramount’s bid to acquire Warner Bros. Discovery, with reports that the deal would keep the studios operating independently for a period and may include CNN monitoring and limits on theatrical releases; a resolution could come as soon as this weekend and would avert divestitures, a major win for Paramount CEO David Ellison who has warned of relocating the company if no agreement is reached. A ticking fee of $7 million per day could start Oct. 1, and talks remain confidential amid ongoing regulatory scrutiny and financing backing from Middle East sovereign wealth funds.