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

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.

Read the proposed consent decree.

The decree also requires Paramount to continue the operation of its lot and that of Warner Bros.