# Paramount-Warner Bros. Deal Coughs Up $5M for Indie Films

> Paramount Skydance's $111 billion merger with Warner Bros. Discovery allocates just $5 million yearly for indie films despite promises of 30 annual productions.
- Title: Paramount-Warner Bros. Deal Coughs Up $5M for Indie Films
- Summary: Paramount Skydance's $111 billion merger with Warner Bros. Discovery allocates just $5 million yearly for indie films despite promises of 30 annual…
- Keywords: paramount, warner bros discovery, skydance, independent film fund, consent decree, california attorney general, david ellison, Paramount-Warner, Bros, Deal, Coughs, Indie
- Source: The Hollywood Reporter — https://hollywoodreporter.com/movies/movie-news/paramount-merger-5-million-indie-films-1236707539
- Author: James Hibberd
- Published: 2026-09-22T17:14:37+00:00
- Read time: 1 min
- Topics: paramount, warner bros discovery, skydance, independent film fund, consent decree, california attorney general, david ellison
## Mega-merger deal
Paramount Skydance acquired Warner Bros. Discovery for $111 billion, pledging at least 30 films yearly and $1.5 billion in domestic film and TV production over five years.
## Indie film fund promise
The consent decree requires Paramount to allocate $5 million per year for indie films, including original screenplays or productions outside major studios.
## Micro-budget films
Paramount could buy six micro-budget blockbusters like Obsession, which cost $750,000, but most indie films cost tens of millions.

> Obsession
## Budget disparity
The Drama cost $28 million, while Megalopolis ballooned to $120 million, highlighting indie film budget ranges.
## Flexible spending
The $5 million figure doesn't limit spending; 20% of films must have $50 million budgets, but 80% carry no budget requirements.
## California AG criticism
California Attorney General Rob Bonta pledged to 'ensure this unlawful merger never sees the light of day' but the deal required no major structural changes.

> ensure this unlawful merger never sees the light of day
## Consequence for violations
Paramount must sell its 49 percent stake in Miramax or divest cable networks like BET and VH1 if it violates the 30-films-per-year pledge.
## Key takeaway

Paramount Skydance will spend $5 million annually on indie films under its $111 billion merger with Warner Bros. Discovery, a symbolic amount after legal battles.