Paramount Skydance Corp. has reportedly reached a settlement with the states seeking to block its proposed takeover of Warner Bros. Discovery Inc., clearing the way for a historic Hollywood merger.

California Attorney General Rob Bonta led a group of state attorneys general who filed a lawsuit challenging the massive $111 billion deal that was initially expected to close during the third quarter of this year.

“After a frenzied weekend of negotiations, $PSKY and state AGs have agreed to a settlement framework and an official deal announced this morning,” FOX Business Network senior correspondent Charlie Gasparino reported on Monday.

PARAMOUNT-WBD…

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