DOJ Approves $111 Billion Paramount-Warner Bros. Merger; California AG Plans Multistate Lawsuit Challenge
By
Antonio Pequeño IV
A second-rack bagel that's nearly first-rack. Tasty stuff.
Summary
The Department of Justice has approved the $111 billion merger between Paramount and Warner Bros. Discovery, following Paramount Skydead defeating Netflix in the acquisition battle. However, California Attorney General Rob Bonta is preparing to lead multiple states in a potential lawsuit challenging the merger. Paramount has stated it will fight against any attempts to derail the deal, arguing it benefits consumers, creators, and the industry. Bonta's office confirmed the investigation remains active but declined to provide updates.
Key quotes
· 2 pulledThe Paramount acquisition of Warner Brothers remains an active investigation, and we do not have any updates to share at this time.
Paramount said earlier this week it would 'fight against any attempt to derail a deal that plainly benefits consumers, creators, and the industry as a whole.'
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