Attorney General Mayes Announces Settlement in Warner Bros./Paramount Litigation

PHOENIX – Attorney General Mayes today joined a coalition of 12 attorneys general in securing a settlement with Paramount Skydance Corporation (Paramount), resolving the states' lawsuit alleging the merger of the entertainment giant and Warner Bros. Discovery (Warner Bros.) would harm competition by lowering output and raising prices, hurting both workers and consumers in the process. "This settlement will support Arizona businesses, including local movie theaters, by ensuring films get theatrical releases that bring audiences through their doors and boost the neighboring shops and restaurants around them," said Attorney General Mayes. "I'm proud to have fought for Arizona's businesses." Today’s settlement, pending approval by the court, includes a five-year court enforceable commitment to increase film output, a minimum of an additional $1.5 billion commitment to bolster domestic film production, a $47.5 million fund for workers who are impacted by the merger, and restrictions on how the company handles cable negotiations to help keep prices competitive. In July, the coalition of attorneys general sued to challenge he merger of Param...