Paramount Skydance Corporation reached a settlement with 12 state attorneys general after U.S. District Court Judge Araceli Martínez-Olguín approved a consent decree resolving the states' antitrust lawsuit against its acquisition of Warner Bros. Discovery. Paramount said the merger is expected to close on Oct. 6. The agreement requires the combined company to release at least 30 films annually during its first two years and 32 annually in years three through five, with each receiving at least a 45-day theatrical window. Missing the targets would trigger mandatory divestiture of Paramount's Miramax stake and a $30 million penalty for every film below the requirement. The company must also spend at least $300 million more on domestic production each year than it did in 2025, totaling $1.5 billion in additional spending over five years, and cannot sell or close the Paramount or Warner Bros. studio lots. Cable-distribution negotiations must remain separate for each company's portfolio; violations could require divestitures including BET, VH1, Comedy Central, Smithsonian, Destination America and Science. Within 180 days of closing, a five-member board of journalists must be created to address disputes involving CBS News and CNN over editorial principles, reporting bias and fairness. Paramount separately settled litigation brought by the Writers Guild of America, agreeing to contribute $17.5 million to the Writers' Guild-Industry Health Fund and pay up to $6 million in legal costs within seven days of closing. David Ellison will remain chairman and CEO, while Ynon Kreiz, Mattel's leader for the past eight years, will serve as co-CEO overseeing operations and integration.