California Attorney General Rob Bonta said settlement talks are not currently planned in the antitrust lawsuit over Paramount Skydance's acquisition of Warner Bros. Discovery. The settlement meeting scheduled for the 24th was canceled.
Attorney General Rob Bonta said settlement talks are not currently planned in the antitrust lawsuit over Paramount Skydance's proposed acquisition of Warner Bros. Discovery. The settlement meeting scheduled for the 24th was canceled.
Bonta said the meeting was canceled because Paramount had leaked details of the meeting and misrepresented the substance of the discussions, adding that the company had acted in bad faith in the talks.
Concerns were again raised that the combination of two major Hollywood studios would increase consumer prices and reduce consumer choice. A report by Los Angeles County also said that approximately 4,500 film and television-related jobs would be lost within 3 years of the combination, dealing a blow to the regional economy.
The deal is valued at approximately $110 billion, and the lawsuit seeks to block the acquisition on antitrust grounds.