Read The Proposed Consent Decree To Settle The Paramount-Warner Bros. Discovery Merger

Skip to main content September 21, 2026 11:03am The Paramount lot Photo by Justin Sullivan/Getty Images As entertainment figures and politicos weigh in on the settlement of the Paramount–Warner Bros. Discovery merger, the parties submitted details of a consent decree for a judge’s approval. Among other things, the five-year decree requires a minimum number of annual film releases and another to spend $300 million more on domestic U.S. film production than was spent in 2025. It also sets levels of U.S. film production if Congress establishes a federal film tax credit. If there is a breach, one remedy is to divest the company interest in Miramax. Restrictions also were placed on affiliate fee negotiations for cable channels, and requirements for negotiating separately. If there is a breach, Paramount may be on the hook to divest channels including BET, VH-1, Comedy Central, Smithsonian, Destination America and Science. The consent decree also sets up a news editorial independence board to oversee CBS News and CNN, including establishing a set of standards and principles. Watch on Deadline Read the proposed consent decree. The decree also requires Paramount to continue the operation of its lot and that of Warner Bros. Must Read Stories More from this Story Arc Paramount WB Read More About: Subscribe to Deadline Get our Breaking News Alerts and Keep your inbox happy. Sign Up Newswire Site