$PSKY · Paramount Skydance Corp
Paramount Skydance filed an 8-K disclosing that on September 30, 2026, the U.S. District Court for the Northern District of California entered a States Consent Decree resolving a multi-state antitrust lawsuit that sought to block the Warner Bros. Discovery merger. Separately, the company settled with the Writers Guild of America for $17.5 million plus up to $6 million in legal fees. Both settlements lift the no-close order, clearing the path for the WBD merger to proceed.
- States Consent Decree entered by U.S. District Court on Sept 30, 2026, resolving multi-state antitrust lawsuit and permitting the WBD Merger
- Combined Entity must release at least 30 films/year (years 1-2) and 32 films/year (years 3-5), with 45-day theatrical windows
- Failure to meet film commitments triggers Miramax divestiture and $30M per-film shortfall penalty
- Combined Entity must spend $300M more annually on U.S. production vs. 2025 combined levels — $1.5B total over 5 years
- WGA settlement: $17.5M one-time health fund contribution plus up to $6M in legal fees; CBS News WGA headcount floor maintained
PSKY rose 3.40% in the regular session to $10.33, with an additional +1.67% after-hours move following the filing, suggesting the market views the antitrust resolution as a meaningful de-risking event for the WBD merger.
This filing signals the near-certain completion of one of the largest media mergers in history, with behavioral remedies that will reshape theatrical output, streaming windows, and labor relations for
This consent decree sets a precedent for behavioral remedies in media mega-mergers, requiring specific theatrical output, SVOD windowing rules, and editorial independence safeguards — conditions that could become a template for future industry consolidation reviews.
The States Consent Decree imposes binding five-year commitments including minimum film releases, production spend floors, and cable negotiation restrictions — with Miramax divestiture and per-film penalties as enforcement. The company also warns the merger may still fail to close or synergies may be
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