Paramount Reportedly Readies $8 Billion Sale of Turner Networks to Salvage Warner Bros. Discovery Deal

Paramount is reportedly preparing to sell Warner Bros. Discovery's Turner networks - CNN, TBS and TNT - for around $8 billion to resolve the state antitrust lawsuits blocking its $110 billion acquisition, with investment bankers also circling HGTV, Food Network and New Line Cinema. California Attorney General Rob Bonta has demanded structural changes before settling, Paramount says it is open to a structural agreement, and Iowa and Montana have publicly sided with Paramount against the 12-state coalition.