secwatch.observer — SEC 8-K summary
======================================

Issuer:     Paramount Skydance Corp (PSKY)
CIK:        0002041610
Form:       8-K
Filed at:   2026-09-30T20:22:28+00:00
Accession:  0001104659-26-112347
Event type: regulatory
Sentiment:  positive
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Court enters 12-state consent decree clearing Paramount-WBD merger; 5-year film release quotas imposed
--------------------------------------------------------------------------------

- Court entered 12-state consent decree Sept 30, 2026, ending the Clayton Act suit (No. 4:26-cv-07116-AMO) and lifting the no-close order so the WBD merger can close.
- Combined entity must release 30 films/year in years 1-2 and 32 in years 3-5, including 20-21 wide releases on 2,000+ screens and 4 independent films yearly, with 45-day theatrical windows.
- Shortfalls trigger $30M per film (50% to industry health/retirement funds, 40% to MPTF, 10% to NAAG) or Miramax divestiture; US production spend must rise $300M/yr ($1.5B total).
- WGA settlement: $17.5M to Writers' Guild-Industry Health Fund and up to $6.0M in WGA fees; CBS News WGA headcount held at baseline; no material impact seen on synergy targets.
- Five-member News Editorial Independence Board for CBS News/CNN required within 180 days; Pluto TV must remain free ad-supported; state legal fees capped at $40M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926112347/0001104659-26-112347-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926112347/tm2626659d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-112347

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer