California cancels meeting with Paramount over Warner Bros merger, accuses firm of acting in 'bad faith': Details
California Attorney General Rob Bonta called off a scheduled meeting with Paramount Skydance executives that was intended to open settlement discussions over the state's lawsuit challenging Paramount's proposed takeover of Warner Bros. Discovery.
California Attorney General Rob Bonta canceled a meeting with Paramount executives to discuss a lawsuit challenging the merger of Paramount and Warner Bros. Discovery. Bonta accused Paramount of acting in bad faith, alleging the firm leaked details of a settlement discussion held on August 21 and misrepresented the talks. The lawsuit, filed by Bonta and a coalition of 12 other attorneys general, challenges the $110 billion merger, claiming it would reduce competition, harm theaters, cable distributors, and audiences.
Bonta offered to meet again once Paramount engaged sincerely, but emphasized the need for a resolution. The merger would control nearly one-third of theatrical and cable programming in the US. The trial is set for March 2027, and a delay could cost the companies millions in fees if the deal isn't completed by October.
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