Paramount must keep Pluto TV free for 5 years under merger settlement

Paramount settled an antitrust lawsuit from 12 state attorneys general, clearing a major hurdle for its $110 billion merger with Warner Bros. The five-year agreement requires the combined company to keep a free Pluto TV or equivalent service, spend at least $300 million more a year on US film production and release at least 30 films annually.

• The five-year settlement includes $1.5 billion in film production commitments
• At least 30 films a year for two years, then 32 films a year
• Pluto TV must stay free or be replaced by an equivalent service
• A federal judge must approve the $110 billion deal, expected to close in October