--- title: "Paramount's $110B Warner Bros. Discovery Merger Clears Legal Hurdle; Elizabeth Warren Says Letting Trump-Aligned Entity 'Dominate' News Is 'Disastrous'" type: "News" locale: "en" url: "https://longbridge.com/en/news/299712152.md" description: "Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery cleared a major legal hurdle after settling antitrust lawsuits with U.S. states and the Writers Guild of America. The settlement imposes conditions including increased film production spending, theatrical release requirements, and an editorial independence board for CBS and CNN. Despite regulatory clearance in the EU and UK, Senators Elizabeth Warren and Chris Murphy criticized the deal as disastrous and illegal, citing concerns over media consolidation and market dominance." datetime: "2026-09-22T02:11:05.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/299712152.md) - [en](https://longbridge.com/en/news/299712152.md) - [zh-HK](https://longbridge.com/zh-HK/news/299712152.md) generator: "portal-rs" --- # Paramount's $110B Warner Bros. Discovery Merger Clears Legal Hurdle; Elizabeth Warren Says Letting Trump-Aligned Entity 'Dominate' News Is 'Disastrous' **Paramount Skydance Corp.’s** (NASDAQ:PSKY) $110 billion acquisition of **Warner Bros. Discovery, Inc.** (NASDAQ:WBD) has cleared a major legal hurdle after the company reached a settlement with a coalition of U.S. states and the Writers Guild of America. ## **Paramount Warner Bros. Discovery Merger Clears Antitrust Fight** The settlement on Monday allows the merger to move forward while requiring Paramount to accept several conditions aimed at addressing concerns over competition, jobs and media concentration. During a press conference, California Attorney General **Rob Bonta**, who led the state’s challenge, described the agreement as a "strong antitrust outcome," Reuters reported. On X, Bonta said, "Today’s settlement protects workers, jobs, and Hollywood." > We’ve reached a settlement agreement with Paramount that includes court enforceable guardrails to resolve the antitrust issues at the center of our case, protect competition and consumer choice, and provide for the production of significantly more films and a minimum of $1.5… pic.twitter.com/6bnckAfj1B > > — Rob Bonta (@AGRobBonta) September 21, 2026 Under the settlement, Paramount will spend at least $300 million more annually on U.S. film production and follow theatrical-release requirements for five years. It must produce 30 movies in each of the first two years and 32 annually for the next three years, with requirements for independent films and blockbusters. Paramount will also face a three-year restriction on raising rates for theater operators and will establish a news editorial independence board overseeing CBS and CNN. **Read Also: Paramount Delays Warner Bros. Deal to June 2027 Amid Legal Fight — But Calls It 'Significant Win'** ## **Elizabeth Warren, Chris Murphy Slam Paramount Deal** Sen. **Elizabeth Warren** (D-Mass.) called the settlement a "disastrous outcome." "A handful of billionaires" should not have the power to shape the media landscape, Warren said, adding that the new Paramount could face future antitrust scrutiny. > Allowing one Trump-aligned, foreign-owned conglomerate to dominate American news and entertainment is a disastrous outcome. https://t.co/bvSkstO2dy > > — Elizabeth Warren (@SenWarren) September 21, 2026 Sen. **Chris Murphy** (D-Conn.) said the merger is "illegal on its face" and argued the settlement could lead to higher prices and more media consolidation. > A normal federal government would have stopped the Paramount merger. It's illegal on its face. It shouldn't have been left to AGs. > > But this settlement puts us on the path to state run media and mass scale price gouging. It's corporate bullying prevailing over the law. https://t.co/3mFBxszyD8 > > — Chris Murphy 🟧 (@ChrisMurphyCT) September 21, 2026 Actor **Mark Ruffalo** also criticized the agreement, saying on X that California Gov. **Gavin Newsom** (D) had handed a "huge win to Trump and his billionaire cronies." > Gavin Newsom hands huge win to Trump and his billionaire cronies. https://t.co/G7GCPHnbcz > > — Mark Ruffalo (@MarkRuffalo) September 21, 2026 ## **$110B Media Merger Moves Closer to Closing** The Writers Guild of America also settled its separate lawsuit while maintaining that the merger could harm the entertainment industry. Paramount had faced a $7 million-per-day fee if the transaction remained incomplete beyond Sept. 30. Regulators in the European Union and the U.K. have already cleared the deal. The legal challenge comes after months of uncertainty surrounding Warner Bros. Discovery’s sale, with **Netflix Inc. (NASDAQ:NFLX)** and Paramount Skydance emerging as competing bidders before Netflix ultimately withdrew from the race. The **Donald Trump** administration backed Paramount Skydance early in the bidding process. Trump has previously expressed public support for the Ellisons, calling them "good friends." **Price Action:** Paramount Skydance shares closed at $9.91, down 2.94%, on Tuesday. In after-hours trading, the stock rose 1.37% to $10.05, according to Benzinga Pro. According to **Benzinga Edge Rankings**, PSKY ranks in the 14th percentile for Momentum, with positive short- and medium-term but negative long-term price trends. ***Disclaimer*:** *This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors*. **Read Also: Jensen Huang Isn't 'Afraid' of Paying $8 Billion in California's Billionaire Tax: Nvidia CEO Says This Is What Scares Him Instead** *Photo Courtesy: daily\_creativity on Shutterstock.com* ### Related Stocks - [WBD.US](https://longbridge.com/en/quote/WBD.US.md) - [PSKY.US](https://longbridge.com/en/quote/PSKY.US.md) - [TRI.US](https://longbridge.com/en/quote/TRI.US.md) - [NFLX.US](https://longbridge.com/en/quote/NFLX.US.md) ## Related News & Research - [Paramount Skydance CEO Says WBD Merger Could Close in 'Two Weeks' as Stocks Jump](https://longbridge.com/en/news/299714328.md) - [Paramount, Warner Bros. Merger To Advance With State AGs Settlement](https://longbridge.com/en/news/299720666.md) - [California AG Says Attorneys General Reached Settlement With Paramount, Resolving Antitrust Issues](https://longbridge.com/en/news/299675322.md) - [Paramount Skydance Corporation Announces Launch of Notes Offerings | WBD Stock News](https://longbridge.com/en/news/300303301.md) - [FACTBOX-Key terms of Paramount's Warner Bros Discovery settlement with US states](https://longbridge.com/en/news/299677538.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**