Paramount Skydance has settled lawsuits brought by 12 state attorneys general and the Writers Guild trade union, a move that will allow the company to close its historic $110 billion acquisition of Warner Bros. The parties worked through the weekend to reach the deal, which includes protections designed to limit the market power and ensure the editorial independence of the media giant, which will control two of Hollywood’s biggest studios, two major subscription streaming services and dozens of TV channels ranging from CBS to HBO. Paramount has promised to release 30 movies a year at the combined studios, a move designed to placate cinema owners and Hollywood talent who believed the merger would reduce film output.
Under the terms of the deal, filed with the federal court Monday, half of those films must be produced by the new company.
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