LA Mayor Calls on Paramount, Bonta to Reach Settlement on Merger Lawsuit
Bass said any settlement should keep Paramount and Warner Bros. Discovery in Los Angeles and protect jobs as county officials warned 4,500 jobs could be at risk.
- On Thursday, Los Angeles Mayor Karen Bass urged California Attorney General Rob Bonta and Paramount Skydance CEO David Ellison to "urgently" resolve the antitrust lawsuit blocking the $110 billion merger with Warner Bros. Discovery.
- Bonta and 11 other states sued to block the deal, arguing it would unlawfully diminish competition in theatrical and television markets; the Writers Guild of America has joined the legal effort to stop it.
- A recent Los Angeles County report estimated the merger could jeopardize about 4,500 film and television jobs and threaten billions in economic activity, potentially accelerating the loss of around 52,000 industry positions over four years.
- City Councilwoman Nithya Raman rejected the call for settlement, backing Bonta's lawsuit, while the Writers Guild of America criticized Bass for joining what it termed a "pressure campaign" on public enforcers to approve the merger.
- With a trial scheduled for March 2027, Paramount faces mounting financial pressure, including a daily $7 million ticking fee payable to shareholders if the deal remains incomplete after October 1.
28 Articles
28 Articles
It was revealed that representatives of Paramount Skydance and the California Attorney General’s Office will have a meeting on Monday, August 24, to discuss a possible antitrust agreement. The meeting will be key, as Paramount has pressed to reach its $110 billion merger agreement with Warner Bros. Discovery. However, the deal is on hold until the antitrust trial takes place in March 2027 before a Oakland federal court. Paramount and California …
Mayor seeks settlement in Paramount-Warner Bros. merger suit - Los Angeles Wave Newspaper Group
Wave Wire Services LOS ANGELES — Mayor Karen Bass is calling on California Attorney General Rob Bonta and media mogul David Ellison to resolve a lawsuit that seeks to block a pending $110 billion merger of Paramount Skydance and Warner Bros. Discovery, warning of potential economic loss for the city from protracted litigation. During a news conference at City Hall Aug. 20, Bass joined a chorus of Democratic elected officials like Gov. Gavin News…
The Mayor of Los Angeles Likes the Warnermount Merger Now
Los Angeles mayor Karen Bass joined Gavin Newsom in calling for the state AG and the WGA to negotiate with Paramount. She says the delay on the Warnermount merger is costing L.A. jobs. The WGA says the merger would cost more.
Los Angeles Mayor Karen Bass Calls on California AG Rob Bonta to Settle Lawsuit with Paramount
Los Angeles Mayor Karen Bass has called upon California Attorney General Rob Bonta to "find common ground" with Paramount in the hopes of settling his lawsuit against the studio's acquisition of Warner Bros. Discovery. The post Los Angeles Mayor Karen Bass Calls on California AG Rob Bonta to Settle Lawsuit with Paramount appeared first on Breitbart.
Report: Paramount-Skydance and WBD Merger Risks 4,500 Film and TV Jobs in L.A.
A new report warns that the proposed Paramount-Skydance merger with Warner Bros. Discovery could put thousands of Los Angeles County jobs and billions of dollars in economic activity at risk. The county’s final report estimates that about 4,500 film and television jobs could be threatened for three years following the merger. Another 2,600 indirect jobs at production vendors could also be affected, including workers at prop houses, transportatio…
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