Paramount reaches settlement with California’s Rob Bonta to clear Warner Bros. merger: sources

Paramount has reached a settlement with California Attorney General Rob Bonta over a multi-state antitrust lawsuit, paving the way for its massive $81 billion Warner Bros. Discovery merger, according to sources. By approximately 10:20 a.m. ET, shares in Paramount and Warner Bros. Discovery jumped 6.6% and 9.8%, respectively, after reports that advanced settlement talks over the weekend had been successful. The settlement terms include a commitment to release 30 movies a year; a multiyear pledge to remain in California, after previously threatening to exit; and independent editorial boards for CBS News and CNN, sources told The Post. The Wall Street...