A U.S. federal judge on Wednesday approved a settlement between Paramount Skydance and 12 states, clearing the final legal hurdle to the company’s approximately $110 billion acquisition of Warner Bros. Discovery. The ruling ends a months-long challenge led by California over antitrust concerns about combining the two media companies.
The deal had already received approval from the U.S. Department of Justice and dozens of international regulators. Under the settlement, the combined company must release at least 30 films annually for several years and establish an independent editorial board to oversee CNN and CBS News. The transaction is expected to close within days.