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Rob Bonta and Paramount Skydance Prepare for Settlement Conference Over $111 Billion Warner Bros. Discovery Merger

California Attorney General Rob Bonta and Paramount Skydance are scheduled to meet for two consecutive days in late October to discuss a settlement for the $111 billion bid to acquire Warner Bros. Discovery. U.S. Magistrate Judge Thomas Hixson ordered the parties to confirm specific dates for the conference by mid-September. The meeting will include representatives from the Writers Guild of America. Paramount Skydance has offered behavioral concessions, such as a pledge to release 30 movies with 45-day theatrical windows. However, Rob Bonta has stated he will only accept structural remedies, which involve selling off parts of the combined business. The studio has threatened to leave California if a settlement is not reached. This threat has been met with some resistance from other state leaders, including Governor Gavin Newsom and Los Angeles Mayor Karen Bass, who prefer a settlement. The merger has been approved by the Department of Justice, the UK, the EU, and Canada. Meanwhile, a $7 million-per-day ticking fee begins accruing for Warner Bros. Discovery shareholders if the deal is not closed. The Supreme Court has also ordered the blue states to respond to a challenge by Iowa and Montana regarding the merger's antitrust status.

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