Block the Merger Coalition to Launch Billboards in New York City, California
The billboards are paid for by the More Perfect Union Foundation The post Block the Merger Coalition to Launch Billboards in New York City, California appeared first on TheWrap .
The Block the Merger coalition is intensifying efforts to halt a $110 billion merger between Paramount and Warner Bros. Discovery. Paid for by the More Perfect Union Foundation, billboards will be displayed in New York City and California to educate the public about the negative consequences of the merger. Coalition executive director Faiz Shakir urges the American public to oppose the oligarchs gaining more control over media platforms.
The coalition has also launched a petition, urging 12 state attorneys general to support their antitrust lawsuit against the deal. Over 5,000 Hollywood figures, including A-list actors and writers, have voiced their opposition to the merger. A rally in front of Paramount highlighted concerns about fewer entertainment options and job losses in the industry.
An economic analysis predicts the loss of 4,500 local film and TV jobs, 2,661 indirect jobs at small businesses, and 3,204 induced jobs. The merger's trial begins in March, with a settlement conference set for October. Paramount has threatened to relocate its operations from California if a resolution isn't reached by October 1, resulting in potential economic losses of up to $21.2 billion, 57,980 jobs, and $1.17 billion in tax revenues.
A judge will decide whether to impose a $1.9 billion bond to cover costs if the deal is delayed. If the merger doesn't close due to regulatory issues, Paramount must pay Warner Bros. Discovery a $7 billion termination fee, with the final deadline for completion being June 4, 2027.
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