California, 11 states suing to block Paramount's $110 billion Warner Bros deal
The complaint says the merger would control about 27% of U.S. film distribution and raise prices for viewers, according to the states.
- On Monday, 12 states, including California, filed an antitrust lawsuit to block the $111 billion takeover of Warner Bros. Discovery by Paramount Skydance Corporation.
- The Department of Justice approved the takeover in June, but state attorneys are challenging the deal, mirroring legal actions against Live Nation Entertainment and prior Nexstar-Tegna litigation.
- Bonta stated the merger would lead to higher prices, lower quality, and less content for consumers. He added, "In this country, no one is above the law."
- Paramount said in a statement to CNN that antitrust authorities globally reviewed the transaction and concluded it does not violate competition laws.
- The United Kingdom government is poised to pursue antitrust action against the Paramount-Warner deal, signaling potential international regulatory challenges ahead.
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(Los Angeles = Yonhap News) Correspondent Kim Kyung-yoon = Twelve U.S. states, including California, [are] major film and media companies Paramount Skydance and Warner Bros. ...
Paramount Blasts Legal Bid To Stop Warner Bros Takeover – channelnews
Paramount Skydance has vowed to fight a lawsuit brought by 12 US states seeking to block its US$111 billion (A$170 billion) takeover of Warner Bros. Discovery, accusing regulators of protecting Netflix and other technology giants from competition. The legal challenge argues the merger would reduce competition, increase prices and result in fewer films and television programs. The deal would combine two of Hollywood’s five major studios and bring…
Daily Montanan
Oregon, 11 other states sue to block Paramount-Warner Bros. merger
Twelve Democratic-led states on Monday sued to block Paramount’s $110 billion acquisition of Warner Bros. Discovery. The lawsuit, filed in the U.S. District for the Northern District of California, argues the merger violates Section 7 of the Clayton Act, a federal law prohibiting mergers that may substantially lessen competition or tend to create a monopoly. […]
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