NJ Democrats Ask AG to Stop Fighting Paramount Merger, Cite State Economy Concerns
- Hudson County leaders and state lawmakers are urging Attorney General Jennifer Davenport to withdraw from the multistate lawsuit challenging the Paramount-Skydance merger, claiming the action is not popular enough to justify its cost.
- Officials argued the litigation threatens the planned roughly $1.2 billion 1888 Studios project in Bayonne, described as an "entirely new economic ecosystem" expected to create jobs for electricians, laborers, stagehands, and artists.
- Paramount seeks a $1.88 billion bond to cover merger losses, with officials warning that New Jersey could face joint and several liability meaning "any one of the 12 states involved could have to cover the full cost."
- California Attorney General Rob Bonta continues to lead the 12-state coalition toward trial after settlement talks were canceled last week, leaving the $111 billion merger litigation moving forward despite internal state opposition.
- While the Governor remains committed to making New Jersey "Hollywood East" by keeping the state open for film business, leaders urged Davenport to work toward a "prompt and reasonable resolution" to be "a voice of reason in the room.
11 Articles
11 Articles
Daily Journal
NJ Democrats ask AG to stop fighting Paramount merger, cite state economy concerns
(The Center Square) – A group of New Jersey elected Democrats argue stopping the Paramount Skydance-Warner Bros. Discovery merger will cause harm to their state’s economy and are asking state Attorney General Jennifer Davenport to withdraw from the lawsuit in…
Fox Business
BizTocDemocrats revolt in New Jersey over AG trying to stop Paramount-Warner merger
Hudson County Democrats urge New Jersey Attorney General Jennifer Davenport to withdraw from the lawsuit challenging the Paramount Skydance and Warner Bros. Discovery merger.
Washington Examiner
Conservative News DailyNJ AG drives wedge between state leaders over Paramount merger lawsuit
Multiple New Jersey state leaders, including Gov. Mikie Sherrill (D-NJ), appear to be at odds with Democratic state Attorney General Jennifer Davenport’s decision to take part in a 12-state antitrust lawsuit against Paramount Skydance’s pending merger with Warner Bros. Discovery. Sherrill declined to answer whether she supports Davenport’s litigation led by California, but instead praised […]
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