California settles lawsuit against Paramount/Warner merger, angering advocates

California and Paramount Skydance have reportedly reached a settlement allowing the company to complete its $111 billion merger with Warner Bros. The settlement, which will reportedly be announced later today, drew condemnation from Democrats and media advocates. "The Paramount/Warner Brothers merger seems facially illegal, and the state AG lawsuit challenging it is very strong," Lina Khan, who chaired the Federal Trade Commission during the Biden administration, wrote yesterday.