Pluto TV protected under Paramount-Warner Bros Discovery settlement
September 22, 2026 12.02 Europe/London By Julian Clover


Paramount Skydance will be required to maintain Pluto TV, or another free ad-supported streaming television service, for five years under the settlement clearing the way for its Warner Bros Discovery acquisition.

The agreement with 12 US state attorneys general also places conditions on how the combined company negotiates carriage of its Paramount and Warner Bros Discovery basic cable networks.

According to Deadline, the two channel portfolios must continue to be negotiated at arm’s length. Failure to comply could trigger divestments, with BET, BET’s associated channels, VH1 and Comedy Central among the Paramount networks identified as potential disposal candidates. MTV and Nickelodeon are not included on the list.

The settlement does not appear to impose equivalent divestiture provisions on the companies’ premium networks or television studios.

It also establishes a news editorial independence board covering CBS News and CNN.

The television provisions form part of a broader settlement that removes one of the final obstacles to the merger. Paramount CEO David Ellison told employees on Monday that the company now hopes to complete the Warner Bros Discovery transaction in approximately two weeks.

Much of the agreement focuses on film production and employment. Paramount has made commitments covering US production investment and the number of films produced by the combined company over the next five years.

The Writers Guild of America has separately settled its legal challenge, leaving Paramount with a clear path towards completing the transaction.

Once completed, the deal will bring Paramount+, Pluto TV and Paramount’s broadcast and cable networks together with HBO Max, HBO, CNN, Discovery and Warner Bros’ other television assets.