US states could sue next week to block Paramount-Warner Bros deal: Report
California-led attorneys general are weighing a suit that could delay the $110 billion merger and trigger a $650 million quarterly fee.
- Led by California, a group of state attorneys general could sue as soon as next week to block Paramount's roughly $110 billion acquisition of Warner Bros. Discovery, opening a new legal front after federal regulators approved the deal.
- This potential action follows federal regulators concluding last month that the merger was "not likely to harm competition or American consumers," yet state attorneys general are increasingly stepping up scrutiny as independent antitrust enforcers.
- Oregon's attorney general has sought a 60-day delay to compel records, while advocacy groups warn the deal could raise streaming subscription prices and lead to job cuts across the combined studio.
- If the lawsuit delays closing past October, Paramount Chief Executive David Ellison must pay shareholders a roughly $650 million quarterly "ticking fee," compounding the company's around $80 billion in debt.
- Meanwhile, Britain's culture secretary is "minded to intervene" in the takeover, even as Paramount continues merging technology stacks to prepare for absorbing HBO Max into its streaming operations.
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By Brian Stelter, CNN Lawyers from several states are finalizing an antitrust lawsuit to challenge the pending acquisition of Warner Bros. Discovery (including CNN) by Paramount, according to people involved in the legal process. It is likely that the joint lawsuit from several states will be filed next week, sources told CNN, although The Post State Attorneys finalize antitrust lawsuit against the Paramount-Warner Bros merger. Discovery appeare…
California & New York Prepare to Sue to Block Paramount’s Acquisition of Warner Bros. Discovery As Soon As Next Week
Several U.S. states are moving toward filing a lawsuit as early as next week in an attempt to stop Paramount from completing its roughly $110 billion acquisition of Warner Bros. Discovery. The action would target the combination of two major Hollywood studios on the grounds that it would unlawfully reduce competition in film production, distribution, […] The post California & New York Prepare to Sue to Block Paramount’s Acquisition of Warner Bro…
US states poised to sue next week to block Paramount-Warner Bros merger: Here’s why
A coalition of US states is preparing a lawsuit to block Paramount’s Skydance $110 billion acquisition of Warner Bros.Discovery, arguing the deal will hurt competition and could sue to block...
US states could sue next week to block Paramount-Warner Bros deal, sources say
U.S. states concerned that Paramount's $110 billion acquisition of Warner Bros. Discovery will hurt competition could sue to block the deal as soon as next week, two sources familiar with the matter told Reuters.
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