Skydance

News Summary:

On August 20, 2026, California Attorney General Rob Bonta stated that settling the multistate antitrust lawsuit against Paramount Skydance's proposed acquisition of Warner Bros. Discovery would require structural fixes. Bonta noted Paramount had steered early discussions toward subjects the complaint does not address, such as the streaming market and CNN, rather than the three markets where states allege antitrust harm. Previously, on August 14, Paramount Skydance announced it satisfied all regulatory conditions globally for the Warner Bros. Discovery acquisition, securing clearances in nearly 70 countries. The UK Competition and Markets Authority concluded the transaction "does not give rise to a realistic prospect of a substantial lessening of competition," while the European Commission rejected a cable-only competitive landscape, asserting streaming platforms offering children's content would continue to act as a competitive constraint. Earlier on August 14, a group of consumers challenging Paramount's merger with Skydance and acquisition of Warner Bros. Discovery filed an amended complaint, adding allegations of injury and causation, including increased consumer prices for Paramount+ after the Skydance deal closed. This followed Paramount Skydance's chief legal officer stating on August 13 that a possible sale of CNN remained "on the table" to resolve California's antitrust suit challenging its $110 billion acquisition of Warner Bros. Discovery.