Paramount, California AG Set October 14-15 for Merger Settlement Talks

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Paramount Skydance, California Attorney General Rob Bonta, and The Writer's Guild of America have agreed to hold two days of settlement negotiations beginning October 14 over lawsuits seeking to block Paramount's merger with Warner Bros. Discovery. The agreement, filed Tuesday in the U.S. District Court for the Northern District of California, follows a judge's instruction last week that Paramount and the 12 state attorneys general suing to block the deal find dates in October for talks. Before negotiations begin, both sides will file statements supporting their positions on the merger, including an evaluation of the likelihood of prevailing and the major issues in dispute, and the court order grants representatives for all parties full authority to negotiate and settle the case. Bonta is seeking concessions that include selling parts of the merged companies, while Paramount has so far offered only behavioral concessions such as a commitment to release at least 30 films. Bonta and Paramount representatives were initially scheduled to meet August 24 before Bonta cancelled the talks amid claims that Paramount leaked confidential details from prior discussions, and Paramount has threatened to pull all operations out of California if a deal could not be reached by October 1.

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Warner Bros. Discovery is the merger target whose deal is being challenged by state AGs and the WGA; settlement talks could determine the deal's fate.

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