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Sep. 23, 2026

Bonta won in court. Paramount won the deal

Paramount Skydance settled Attorney General Rob Bonta's antitrust suit over its Warner Bros. Discovery acquisition with no immediate divestitures, agreeing instead to five years of production-spending and theatrical-release commitments that antitrust experts call largely unenforceable.

Aside from shareholders of Warner Bros. Discovery Inc., Paramount Skydance Corp. emerged as a clear winner in its battle with Attorney General Rob Bonta over his antitrust lawsuit to block the acquisition.

After losing two early rounds in court to Bonta and 11 other Democratic attorneys general, Paramount Skydance and its legal advisers turned to hardball politics as the company faced potentially huge costs if the acquisition didn't close by Oct. 1.

CEO David Ellison ...

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