Paramount and Warner Bros. Expect a Delay in Closing the Deal
The states say the merger could harm competition in film and cable TV and ask a judge to pause the deal before final approvals.
- A coalition of 12 state attorneys general filed an antitrust lawsuit to halt Paramount's acquisition of Warner Bros. Discovery, seeking a temporary restraining order to freeze the merger.
- Bonta cited expected job losses and reduced journalistic diversity as concerns, while Paramount rejected the suit, claiming it "distorts settled antitrust law" and that Netflix has harmed the market.
- On Tuesday, the case was assigned to Judge P. Casey Pitts, a Biden appointee who must determine if the transaction causes "irreparable harm." States invoked a Pennsylvania precedent arguing it is "extraordinarily difficult to unscramble the egg."
- Paramount vowed to complete the deal by the end of September to avoid a "ticking fee" starting in October, though a court-ordered restraining order would block the merger through year-end.
- The European Commission set a July 22 deadline for its decision, while state officials expect a ruling on the temporary restraining order within the next week.
35 Articles
35 Articles
'It will negatively affect consumers': WA joins antitrust suit against Paramount-Warner Bros. merger
Washington, along with 10 other attorneys general, is involved in an antitrust lawsuit against the proposed merger between Paramount and Warner Bros. Jake Skorheim and Spike O’Neill, co-hosts of “The Jake and Spike Show” on KIRO Newsradio, debated whether a lawsuit would even have been proposed if the deal had included other parties, and what Washington’s desire to join is. “It’s a weird story because you’re talking about two of the largest ente…
FCC Chair Doubts State AG Lawsuit Against Paramount-Warner Bros. Will Succeed
FCC chairman Brendan Carr has expressed skepticism that a lawsuit by 12 state attorneys general to block the $110 billion Paramount-Warner Bros. Discovery merger will be successful. During an interview at the Hill Nation Summit on Wednesday, Carr was asked whether he thought the lawsuit would have any chance of succeeding in court, to which he replied: “I doubt it.” He proceeded to point to a report that California Attorney General Rob Bonta wou…
Inside the states’ case to block the Paramount-Warner Bros. merger: 'Each side is taking risks'
Winning a restraining order will be a crucial test for California Atty. Gen. Rob Bonta and his group. Some observers see the states' efforts as an uphill climb because the U.S. Justice Department last month approved the merger.
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