California cancels talks with Paramount over Warner Bros deal

California Attorney General Rob Bonta terminated a scheduled meeting with Paramount Skydance representatives on Monday in an attempt to settle a lawsuit against the proposed acquisition of Warner Bros Discovery, according to his office. Paramount has expressed a willingness to reach a settlement, as it anticipates substantial fees and costs if the lawsuit progresses to a trial in March.

Bonta and his fellow state attorneys have secured significant victories, thereby exerting leverage in potential settlement negotiations. Bonta alleged that Paramount disclosed sensitive information during a Friday meeting, behaving in bad faith, a claim Paramount has denied. Paramount not only leaked the alleged settlement discussions but also distorted their content, displaying a lack of good faith, Bonta stated.

Following their meeting on Friday, Bonta indicated that his office would be receptive to future discussions with Paramount only if the company engages in sincere negotiations. A Paramount spokesperson acknowledged Bonta's concerns regarding public discussions concerning the matter.