Thirty Films, Two Lots, and One Writers Guild Left

The 12 states suing to block Paramount's takeover of Warner Bros. Discovery have settled, which leaves the Writers Guild of America lawsuit set for March 2, 2027 as the last challenge standing. Frank runs through the terms, including a 30-film theatrical minimum, a $1.5 billion California production commitment, and a third-party editorial adviser for CNN and CBS News.

Paramount has to release 30 movies a year in theaters or pay a penalty for every film it misses, and missing the target also puts its Miramax stake on the line. The company can't move operations out of California after threatening to leave, and it has to keep both the Paramount and Warner Bros. studio lots. Frank still hates the merger, but he thinks the terms are solid for California film workers. Starting October 1, Paramount owes $7 million a day until the deal closes.

• 0:00 The States Settle

• 0:14 The 30 Film Rule

• 0:34 Paramount Stays in California

• 0:46 An Adviser for CNN and CBS News

• 0:58 $1.5 Billion and Both Studio Lots

• 1:08 Miramax on the Line

• 1:30 The $7 Million a Day Clock

• 1:43 The WGA Lawsuit

• The 12-state antitrust case against the Paramount and Warner Bros. Discovery merger is settled, and the WGA suit going to trial March 2, 2027 is the last legal challenge.

• Paramount has to release 30 theatrical films a year, and Frank thinks the penalty is sized so that making smaller, arthouse-style films in the A24 mold pays off more than skipping them.

• Paramount stays in California, keeps both studio lots, and commits $1.5 billion to California productions across both studios.

• CNN and CBS News get a third-party editorial adviser.

• Paramount owes $7 million a day after October 1 if the deal hasn't closed, and $7 billion if it falls apart.

"As much as I hate this merger and think it's going to be a real detriment to creativity and to jobs and to unions, these are pretty solid terms." Frank

"Younger generations are going out for lower budget, more arthouse films. Those kinds of movies are tailor made for that deal." Frank

"The last bastion of hope that we have to stop this merger is the WGA lawsuit." Frank

Sources: Nerdist, Variety, CNN, Deadline, The Hollywood Reporter, The Wall Street Journal. Full story at GeekFreaksPodcast.com

If you know someone working in California film or TV, send them this one so they know what Paramount just promised to keep in the state. #GeekFreaksPodcast

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Did the states get enough out of Paramount, or should they have taken it to trial? Can the Writers Guild lawsuit still stop the merger in March?