Judge Sets Date For Settlement Talks In Paramount-WBD Antitrust Case

Key Points:

• A judge has ordered Paramount and the state attorneys general suing to block its merger with Warner Bros. Discovery to attend a two-day settlement conference on October 14-15 in San Francisco, as a mandatory step before the trial scheduled for early March.
• California AG Rob Bonta, leading the antitrust case with 12 other AGs, demands "structural" remedies such as asset sales and separation between Paramount and Warner Bros studios, while Paramount CEO David Ellison has promised increased film output and threatened to relocate the studio if the case delays.
• Paramount faces a $7 million daily ticking fee starting October 1 if the merger hasn't closed, and a separate hearing on September 24 will address the plaintiffs’ bond requirement to cover this fee, with the Department of Justice supporting a $1.88 billion bond to ensure parties have "skin in the game."
• The settlement conference will involve confidential settlement statements and discussions, including representatives from the Writers Guild of America, with all statements and meetings being private and inadmissible at trial if no settlement is reached.
• The court requires parties to submit detailed settlement statements by October 7 and a list of attendees by October 12, emphasizing the exploration of settlement objectives, obstacles, and potential creative resolutions.