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Twelve state attorneys general, the directors’ and crew unions, the theater owners, and much of the industry disagree on almost everything in the Paramount–Warner Bros. Discovery case. They agree on one thing: they would all prefer a settlement. The Directors Guild and IATSE have jointly urged Attorney General Rob Bonta and David Ellison to pursue a negotiated resolution. The theater owners group, Cinema United, which opposed the merger, now seeks a settlement with enforceable protections. The three largest exhibitors have endorsed the deal after receiving commitments on theatrical output and release windows. Political leaders, including Gov. Gavin Newsom, likely successor Xavier Becerra and L.A. Mayor Karen Bass, have joined in.

I understand the impulse. I share it. No one in this industry benefits from another year of limbo. Not Warner Bros. Discovery, not Paramount, and certainly not the writers, directors, crews, vendors, and communities whose livelihoods depend on production that companies in limbo may not greenlight.

A word about where I stand. I have publicly written against this merger more than half a dozen times, and you should keep that in mind as you read. That is why this piece points to numbers rather than conclusions. The numbers do not care what I think.