Paramount, States May Settle Warner Bros. Deal Fight As Soon As This Weekend

According to CNBC, Paramount and states seeking to block its $110 billion acquisition of Warner Bros. could reach a settlement as soon as this weekend, with independent content monitoring of CNN and a commitment on the number of theatrical releases among the terms under discussion. Paramount shares rose nearly 7% after markets closed, while Warner Bros. Discovery shares gained 8.4% in after-market trading. The case brought by California and 11 other states is one of the final hurdles to Paramount's bid to become a larger rival to Netflix and Walt Disney, and a settlement this week could help Paramount avoid paying millions of dollars in fees to Warner Bros. shareholders. Paramount is on the hook for a $7 million-a-day ticking fee after September 30 until the deal closes, and CEO David Ellison has previously said the combined film studios would release 30 movies a year.