A federal judge ordered Paramount Skydance and a 12-state coalition to engage in a two-day settlement conference. California leads the states in an antitrust lawsuit that has currently halted the deal.
The in-person meetings are scheduled for late October. These negotiations represent a critical attempt to rescue the proposed $110 billion acquisition of Warner Bros. Discovery.
Paramount and Warner Bros. Discovery reached their initial merger agreement in February 2026. Paramount must close the deal by September 30 to avoid significant financial penalties.
If the merger remains unclosed after that date, Paramount will pay Warner Bros. Discovery shareholders a daily ticking fee of $7 million.