A federal judge on Wednesday, September 30, approved a settlement between Paramount and a group of U.S. states, clearing the way for Paramount's takeover of Warner Bros. Discovery.

Judge Araceli Martínez-Olguín in California signed the consent decree, which makes binding the concessions Paramount offered to end an antitrust challenge brought by 12 states. The companies now expect to close the deal on October 6.

The decree commits the merged studio to release 30 movies in each of the first two years after the deal and 32 in each of the following three years. It also sets up a board meant to protect the editorial independence of CNN, which Warner Bros. Discovery owns.

Financing for the takeover reportedly includes about $24 billion in equity from the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi.

The combination would put two of Hollywood's oldest studios, along with their streaming services and news networks, under one roof.