Nevada Attorney General Aaron Ford joined a coalition of 12 attorneys general in securing a settlement with Paramount Skydance Corporation over the merger with Warner Bros. Discovery. The deal, pending court approval, includes commitments to increase film output, boost domestic production spending, and establish a $47.5 million fund for workers affected by the merger.
The settlement requires Paramount to release at least 30 films annually—including 20 wide releases—in the first two years following the merger, increasing to 32 films per year with 21 wide releases in years three through five. The company must also release at least four independent films in each year. If Paramount fails to meet its film output requirements, the company must divest Miramax Studios and pay $30 million per missed film to union health care and retirement trust funds and to the National Association of Attorneys General for additional antitrust enforcement.
Paramount committed to spend an additional $1.5 billion over five years on U.S. film production beyond its 2025 spending levels. The deal also establishes a $25 million independent film fund with a $5 million annual contribution.
For worker protections, Paramount must commit $47.5 million over five years for workforce training and career development for displaced employees. The company must also honor existing collective bargaining agreements and negotiate in good faith with unions. The merger settlement requires Paramount to negotiate cable channel agreements independently from Warner Bros. channels for five years to preserve competitive dynamics, and the company must maintain a free streaming service and establish a News Editorial Independence Board to help CNN and CBS maintain editorial independence.
"This outcome ensures Paramount will continue to invest in domestic film production and imposes penalties that would support the country's movie industry should they fail to do so," Ford said.