California and Paramount Skydance have reportedly reached a settlement allowing the company to complete its $111 billion merger with Warner Bros. Discovery. The settlement, which will reportedly be announced later today, drew condemnation from Democrats and media advocates.

The deal, expected to result in the combined company emerging with nearly $80 billion in debt, has faced legal challenges from four states. Lina Khan, who chaired the Federal Trade Commission during the Biden administration, expressed concern that the settlement may allow the deal to proceed with only behavioral remedies, which she predicts will fail.

“Settlement talks came to fruition over the weekend after four states that had opposed terms of a deal outlined with California conceded,” Bloomberg reported, citing a source familiar with the matter. The New York Times and The Wall Street Journal also confirmed the deal.

Advocates unhappy with California AG Rob Bonta criticized his decision. “We are disappointed that Attorney General Bonta went back on his promise to enforce the law and protect consumers and workers,” said Jessica J. González, co-CEO of Free Press. “Hundreds of thousands of people called on our state AGs to stand up to the Ellisons, who have engaged in a campaign of corruption and extortion to pave the way for this unlawful merger.”