Paramount settles lawsuits with 12 US states, clearing way for Warner merger

States including California and New York sued over concerns of ‘extinguishing competition’ with $81bn merger Paramount has reached a settlement with California and several other states that sued over a proposed $81bn merger with Warner Bros Discovery ( WBD ), the California attorney general announced Monday, clearing the way to consolidate some of Hollywood’s most recognizable TV networks and studios under one owner.

Though the merger was approved by the justice department in June, a coalition of 12 states,…