Paramount/WBD merger conditions give the public "virtually nothing," judge is told
US judge reviews deal with California, says it must not be result of collusion.
A coalition of free speech and media advocacy groups has informed a judge that the Paramount/Warner Bros. Discovery merger settlement offers little benefit to the public. The groups contend that residents of the states that challenged the $111 billion deal will gain virtually nothing. The settlement, which California Attorney General Rob Bonta secured, must still be approved by US District Judge Araceli Martínez-Olguín.
Earlier this week, the judge initially ruled that the merger could substantially reduce competition and violate antitrust laws. Twelve states led by California filed a lawsuit in July to block the deal, leading to a delay. Despite the initial win, all of the states involved in the lawsuit agreed to the settlement.
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