US judge approves settlement allowing Paramount to acquire Warner Bros.

A U.S. federal judge has approved a settlement, removing the final significant legal barrier to the proposed merger between entertainment giants Paramount and Warner Bros. Discovery. Judge Araceli Martinez-Olguin signed off on the agreement on September 30, 2026, allowing the approximately $110 billion deal to proceed. The merger is now anticipated to finalize by October 6, 2026.

This approval follows an antitrust lawsuit brought by 12 state attorneys general, led by California's Rob Bonta, who expressed concerns about potential reductions in market competition and the editorial independence of news outlets like CNN and CBS News. The settlement addresses these concerns by mandating Paramount to produce a minimum number of films in the U.S. over the next five years, invest additional funds in domestic film production, and establish an independent editorial board to oversee CBS News and CNN.

While the U.S. Department of Justice and other international regulators had previously approved the merger, the state-led lawsuit was the last major hurdle. Despite the judge's approval, some critics, including advocacy groups and certain senators, voiced disappointment, arguing that the settlement's conditions do not adequately resolve the potential negative impacts on competition, employment, and journalistic integrity.