California cancels talks with Paramount over Warner Bros merger, NYT reports
Bonta said Paramount leaked settlement details and misrepresented talks as state attorneys general pressed for structural remedies in the antitrust case.
- On Monday, California Attorney General Rob Bonta canceled the scheduled mediation meeting with Paramount regarding the $111 billion Warner Bros Discovery acquisition, citing the company's bad faith in leaking settlement details.
- A 12-state coalition led by Bonta challenges the merger, arguing consolidation would grant the company excessive power across cable television and movie production.
- Demanding "structural remedies," the coalition seeks asset sales, while Paramount faces a $7 million daily "ticking fee" if the merger fails to close by Oct. 1.
- Bonta accused Paramount leadership of "demonstrating a lack of good faith" regarding leaked discussions, yet left the door open for future meetings, stating his office is "happy to meet again."
- The parties remain deadlocked as they approach an antitrust trial scheduled for March 2027, with Paramount reportedly threatening to relocate its headquarters from California if the legal challenge forces the deal to trial.
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14 Articles
(Seoul = Yonhap News) Reporter Kwak Min-seo = The conflict between Paramount Skydance (hereinafter Paramount), which is pursuing a massive merger with Warner Bros., and the California state government...
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Trump buddy Larry Ellison (one of the richest people in the U.S.) and his son David are a hair’s breadth away from being able to decide what many Americans learn about what Trump is doing to America. The only thing stopping them is California attorney general Rob Bonta’s lawsuit, joined by the attorneys general of 11 other states and the Writer’s Guild of America. Bonta’s coalition is attempting to derail the Ellisons’ proposed $111 billion purc…
California calls off meeting with Paramount over WBD takeover, NYT reports
California’s attorney general has reportedly scrapped talks scheduled for Monday with representatives of Paramount over the company’s planned $110 billion takeover of Warner Bros. Discovery.
Attorney General Rob Bonta accuses the company of leaking and misrepresenting previous contacts and cools the path of an out-of-court settlement
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