Paramount faces $30M per-film penalty in Warner deal

Paramount Skydance could face a significant financial obligation under reported settlement terms tied to its planned acquisition of Warner Bros. Discovery. According to Bloomberg, Paramount would pay $30 million for each film it falls short of an agreement to release at least 30 movies in theaters annually.

The reported conditions could also force the company to sell its stake in Miramax if it fails to meet the film-release target. Paramount previously offered the 30-film commitment to major theater chains to secure support for the proposed $110 billion transaction.

California Attorney General Rob Bonta has questioned such remedies, arguing that they could be difficult to enforce. The transaction also faces legal challenges from attorneys general in 12 states and the Writers Guild, which argue the merger would increase Paramount's control over the movie and cable-TV markets.

Despite the scrutiny, shares of Paramount Skydance gained 6% in premarket trading on September 21, 2026, while Warner Bros. Discovery rose 7.1%.