BRIEF-New Jersey AG Jennifer Davenport Announces Settlement of Paramount-Warner Bros. Litigation

Sept 21 (Reuters) - New Jersey Attorney General:

• NEW JERSEY AG: ATTORNEY GENERAL DAVENPORT ANNOUNCES SETTLEMENT IN WARNER BROS./PARAMOUNT LITIGATION

• NEW JERSEY AG: PARAMOUNT-WBD DEAL SETTLEMENT INCLUDES MINIMUM OF ADDITIONAL $1.5 BILLION COMMITMENT TO BOLSTER DOMESTIC FILM PRODUCTION

• NEW JERSEY AG: PARAMOUNT-WBD DEAL SETTLEMENT INCLUDES A FIVE-YEAR COURT ENFORCEABLE COMMITMENT TO INCREASE FILM OUTPUT

• NEW JERSEY AG: IF PARAMOUNT FAILS TO MEET THIS FILM OUTPUT REQUIREMENT IN ANY YEAR, COMPANY WILL BE REQUIRED TO DIVEST MIRAMAX STUDIOS

• NEW JERSEY AG: IF PARAMOUNT FAILS TO MEET FILM OUTPUT REQUIREMENT IN ANY YEAR, COMPANY MUST PAY $30 MILLION PER MISSED FILM

• NEW JERSEY AG: UNDER PARAMOUNT SETTLEMENT, COMPANY AGREES TO CREATE AN EDITORIAL-INDEPENDENCE BOARD FOR CNN AND CBS

• NEW JERSEY AG ON PARAMOUNT-WBD DEAL: UNDER PARAMOUNT SETTLEMENT, THE MERGED COMPANY WILL FORM AND OPERATE A FUND FOR PURCHASING INDEPENDENT FILMS

• NEW JERSEY AG ON PARAMOUNT-WBD DEAL: UNDER SETTLEMENT, THE MERGED CO WILL MAKE ANNUAL CONTRIBUTION OF $5 MILLION PER YEAR, FOR TOTAL OF $25 MILLION

• NEW JERSEY AG ON PARAMOUNT-WBD DEAL: UNDER SETTLEMENT, MERGED COMPANY WILL COMMIT $47.5 MILLION IN A WORKFORCE FUND OVER FIVE YEARS

Further company coverage: PSKY.O