Paramount has settled the antitrust lawsuit brought by 12 states, led by California Attorney General Rob Bonta, clearing the way for its $11 billion acquisition of Warner Bros. The deal is expected to close in early October.

Paramount agreed to an editorial independence board overseeing CBS News and CNN, and to commit to 30 theatrical releases a year. Paramount chief David Ellison will gain control of DC and Harry Potter franchises.

The Writers Guild of America also settled its lawsuit, securing a prohibition on writer layoffs at CBS News Broadcast for 5 years and $17.5 million for its health fund plus attorneys' fees. Not all attorneys general are satisfied; Connecticut's William Tong wanted full divestiture of CNN and CBS News, saying he is "deeply disappointed."

The Wall Street Journal reported Paramount was in advanced talks with Bonta. Politico noted Paramount considered leaving California, prompting Gov. Gavin Newsom and LA Mayor Karen Bass to urge a settlement. US and EU regulators have already approved the merger.