Representatives for Paramount Skydance and the State of California are set to meet Monday to discuss a settlement of the antitrust lawsuit aimed at blocking Paramount's takeover of Warner Bros. Discovery.
It is unclear if the discussions will lead to a settlement, but California Attorney General Rob Bonta and 11 other state attorneys general filed a lawsuit in July seeking to block the merger.
The meeting will also address how the deal could impact competition in the entertainment industry.
Bonta stated that the acquisition would require "robust structural remedies" to reach a settlement in the antitrust case.
If the deal is delayed beyond September 30, Paramount will owe Warner Bros. Discovery shareholders a "ticking fee" of about $650 million, and should the deal fall apart entirely, Paramount would incur a $7 billion breakup fee.
