Paramount Skydance representatives are expected to meet on Monday with the California Attorney General’s office to discuss a potential settlement of the states’ antitrust case, according to two sources familiar with the situation.
Paramount has been pushing hard for a deal to allow its $111 billion merger with Warner Bros. Discovery to close. The deal is currently on hold pending a March trial in federal court in Oakland.
Attorney General Rob Bonta has said he is open to settlement negotiations, but has also said that Paramount has thus far been unwilling to offer the kind of structural remedies that would be needed to satisfy the states’ concerns.
A Paramount spokesperson declined to comment.
Bonta led a 12-state coalition to challenge the merger in July, arguing that it would illegally contract the marketplace for theatrical distribution and basic cable. The merger would consolidate two of Hollywood’s five legacy studios and two of the top three cable programmers.
