Paramount Skydance (PSKY.US) is said to have reached a settlement with California and other state governments, clearing a major obstacle for its acquisition of Warner Bros. Discovery (WBD.US).

Zhito Finance APP has learned that, according to people familiar with the matter, Paramount Skydance (PSKY.US) has reached a settlement with the state of California and other states seeking to block its acquisition of Warner Bros. Discovery (WBD.US), clearing a major obstacle for the deal valued at $110 billion, one of the largest mergers in Hollywood history. The settlement agreement is expected to be officially announced later on Monday local time. Media outlets also cited related reports confirming that, if the settlement is ultimately implemented, it will remove one of the main legal obstacles facing the deal.