The proposed Paramount/Warner Bros. settlement agreement has been filed in federal court, pending a judge's approval. Here are the key takeaways: • 30 theatrical releases a year for 2 years, then 32 a year for 3 years. • 20 wide releases, 4 indie films, and 20% must be $50M+ tentpoles/blockbusters. • 45 day theatrical windows, and 90 days before anything hits SVODs. • $30M penalty for every film that falls short of the target paid into union and industry funds. • $300M more a year on U.S. production, a $1.5B total raising U.S. production from 5% to 20%. • $5M a year indie fund + $9.5M a year for workforce training. • Both lots MUST NOT BE SOLD OR CLOSED through 2031. AKA, stay in operation in California. • Development deals already signed within the 12 states MUST be honored. • Editorial independence board for CNN and CBS News. In addition, there are two contingent divestitures IF Paramount fails the following and it's not remedied within 6 months: • Miss the annual film target: Miramax MUST BE SOLD. • Violate ANY cable commitments: BET, Comedy Central, VH1, Smithsonian, etc. MUST BE SOLD. Read the proposed settlement here: storage.courtlistener.com/re…