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2026-09-22 02:03:16
The New Jersey Attorney General announced that a formal settlement has been reached in the lawsuit between Warner Bros. and Paramount. The settlement includes a minimum commitment of at least $1.5 billion to support the local film production industry. The settlement also stipulates that if Paramount fails to meet its agreed-upon film production targets in any given year, it will be required to divest Miramax Studios. Furthermore, the settlement includes a five-year, court-enforceable commitment with the core objective of increasing film production. Under the agreement, Paramount would pay a $30 million penalty for each film it fails to produce in any given year.
