California, 11 states suing to block Paramount's $110 billion Warner Bros deal
The coalition says the $110 billion deal would give one company control of nearly one-third of U.S. theatrical films and basic cable programming.
- On Monday, a coalition of 12 states led by California Attorney General Rob Bonta and Washington State Attorney General Nick Brown filed a federal antitrust lawsuit to block Paramount's $110 billion acquisition of Warner Bros.
- The AGs allege the merger would "raise prices, reduce consumer choice, and cost many Americans their jobs," claiming the combined entity would control 27% of theatrical film distribution and basic cable markets in violation of the Clayton Act.
- If finalized, the combined entity would control Paramount Pictures, Warner Bros. Motion Picture Group, 15 CBS-owned local television stations, HBO, Showtime, and Discovery+, giving it nearly a third of theatrical movies and basic cable programming.
- Paramount Skydance countered that the lawsuit "distorts settled antitrust law" and misrepresents industry competition, arguing the merger creates a stronger competitor against streaming giants like Netflix rather than harming consumers.
- While the Antitrust Division of the Department of Justice closed its investigation, Paramount has secured approval from 24 national and international regulatory agencies, asserting the deal will expand output and benefit workers.
408 Articles
408 Articles
12 states sue Paramount over Warner takeover, say merger would 'extinguish competition'
Twelve states, including California and New York, sued to block Paramount’s takeover of Warner Bros. Discovery on Monday, arguing that the $81-billion US merger would "extinguish competition" in Hollywood and lead to fewer choices for consumers across the U.S.
The agreement seemed now closed after the withdrawal of Netflix and the green light of the Trump administration. But you will have to go through an antitrust cause
A Dozen States Sue To Block Paramount’s Shitty, Unpopular Merger
A dozen states have filed an antitrust lawsuit to block Paramount/CBS' $111 billion merger with Warner Brothers. The states argue the deal will undermine market competition, cause untold layoffs, result in higher prices and lower quality for consumers, and significantly harm a Hollywood entertainment industry that still hasn't fully recovered from Covid, the streaming revolution,…
Tong: Paramount, Warner Bros merger will harm movie theaters
Connecticut Attorney General William Tong is warning that the Paramount Skydance Corporation’s purchase of Warner Bros. Discovery Inc will have a “devastating” impact on movie theaters. He joined a multi-state lawsuit against the merger on Monday, July 13. “This is an unlawful merger that will have devastating consequences for families and people across Connecticut and across the country,” Tong said at a press conference about this merger. Warne…
Paramount deal turns into a 'nightmare' as clock ticks down to millions in penalties
Paramount head David Ellison's $111 billion acquisition of Warner Bros. Discovery is unraveling, with a coalition of 12 states filing a blockbuster antitrust lawsuit designed to derail the merger as the media executive faces a financial time bomb that could cost him hundreds of millions of dollars...
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