Los Angeles, CA (KKOB) – An agreement has been reached today to settle the lawsuit brought against Paramount Skydance Corporation by a coalition of 12 states, including New Mexico, against the $81 billion merger with Warner Bros. Discovery. The antitrust lawsuit was filed initially by California Attorney General Rob Bonta alongside 11 other Democratic-led states in July 2026, New Mexico joined the multi-state coalition filing on July 13.
The argument against the mega-merger centered on the creation of what the plaintiffs said would create extreme concentration across both theatrical film distribution and cable television. Paramount also owns CBS Television Network and Warner Bros. owns CNN.
Paramount was facing a deadline with Warner Bros shareholders had the transaction remained blocked by September 30. Now Paramount will avoid paying an $7 million-a-day “ticking fee” Regulatory bodies in both the European Union and the United Kingdom had already approved the merger. Among the concessions agreed to, was a leading concern my those opposed to the merger which was editorial independence particularly with CNN. The agreement calls for the creation of an independent editorial boards specifically tasked with safeguarding the journalistic integrity of CNN and CBS News. Not everyone is happy with today’s announcement. A group known as the Block the Merger Coalition and organizations like the Open Markets Institute have voiced their opposition to the deal, saying in part that it will ultimately result in massive job cuts, higher consumer prices, and dangerous media consolidation.
