Paramount’s Agreement with State Attorneys General on Warner Bros. Discovery Bid

David Ellison, Chairman and CEO of Paramount Skydance, spoke at the New York Upfront Partnership Event 2026 held at Storied NYC on April 22, 2026. This event attracted attention due to Paramount’s active role in a high-stakes business maneuver.

Paramount’s owners recently agreed to several concessions proposed by a group of 12 Democratic state attorneys general. The purpose was to resolve a lawsuit that threatened the potential $111 billion acquisition of Warner Bros. Discovery. This information was shared by a source familiar with the situation, who asked to remain anonymous, as the details haven’t been publicly disclosed by the involved parties.

Under this agreement, Paramount will manage Warner Bros. Studios and Paramount Pictures as distinct entities, at least for the immediate future. Both studios are expected to produce a minimum of 30 films annually to avoid financial penalties. Furthermore, the arrangement includes the formation of a board dedicated to preventing corporate influence on newsroom decisions at Warner’s CNN. This was a significant concern for several of the attorneys general involved.

Details in this story are subject to updates as more information becomes available.