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California AG: Settling Paramount-WBD merger lawsuit requires robust structural remedies
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California Attorney General Rob Bonta told CNBC that settling the antitrust lawsuit against the proposed Paramount Skydance-Warner Bros. Discovery merger would require 'robust structural remedies.' Bonta, representing a coalition of 12 states, criticized Paramount for focusing on irrelevant topics like streaming and CNN instead of the three markets where the states allege antitrust violations. The lawsuit, filed in July 2026, seeks to block the merger, arguing the combined company would control nearly one-third of films and basic cable TV programming. Bonta expressed openness to settlement talks if Paramount engages in good faith, but emphasized the states are prepared to pursue the case in court. The merger would unite major studios Warner Bros. and Paramount, along with TV networks including CBS, MTV, BET, CNN, and streaming platforms Paramount+ and HBO Max.
Source report
California Attorney General Rob Bonta told CNBC's David Faber on Thursday that any settlement in the antitrust lawsuit against Paramount Skydance's acquisition of Warner Bros. Discovery would require "robust structural remedies."
Key Remarks from Attorney General Bonta
Bonta criticized Paramount's approach to the case, stating:
"[Paramount] wanted to talk about everything except for what this case is about. They want to talk about the streaming market, which we don't allege in our complaint. They want to talk about CNN, which is not a focus of our complaint. They want to talk about the foreign regulators. We want to talk about the three markets that we set forth in our complaint, where we think there's antitrust violation."
On the possibility of a settlement, Bonta added:
"I will say that coming to the table has always been on the table. And if [CEO David] Ellison and Paramount want to come to the table in good faith and talk, we want to talk too. We're happy to have that conversation. We do prefer to resolve cases in the boardroom instead of the courtroom, but for now we're bringing our case, and you know I hope they can focus on the actual allegations we make in our complaint."
Background on the Lawsuit
- Bonta and 11 other state attorneys general filed a lawsuit in July seeking to block the merger.
- The suing states include: Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington.
Core Allegations
The lawsuit focuses on the combined company's market power, alleging it would control:
- Nearly one-third of films
- Nearly one-third of basic cable TV programming
What the Merger Would Combine
If the two companies were to merge, it would bring together:
- Movie studios: Warner Bros. and Paramount
- TV networks: Paramount's broadcast network CBS, pay TV channels including MTV and BET, alongside WBD's CNN, Discovery, and others
- Streaming platforms: Paramount+ and HBO Max
This story is developing. Please check back for updates.
Source
US Top News and AnalysisWestern
Part of this Story
Paramount Skydance-WBD Merger Blocked by California-Led Antitrust Lawsuit