The antitrust settlement of state attorneys general's lawsuit over Paramount's merger with Warner Bros. Discovery requires Paramount to maintain an ad-supported streaming service like Pluto TV for five years. To ensure fair competition, Paramount must keep cable carriage negotiations separate from Warner Bros. Discovery's offerings, or face mandatory divestiture of BET, VH1, and Comedy Central, whilst major flagships MTV and Nickelodeon remain protected.

The settlement prioritised film production and basic cable, receiving relatively little scrutiny of television matters. Notably absent are protections for TV and film studios or Paramount's premium cable network Showtime, potentially allowing Paramount to bundle Showtime with HBO in operator negotiations. Paramount's leadership has recently invested heavily in growing Pluto TV, which had previously lost market share to competitors like Tubi and Roku, positioning it as central to the company's advertising strategy.