California Attorney General Rob Bonta canceled a settlement meeting with Paramount scheduled for Monday, accusing the company of leaking and misrepresenting details of an earlier negotiating session. Bonta said Paramount's actions demonstrated a lack of good faith, but added his office would meet again if Paramount engages sincerely. Bonta leads a coalition of 12 state attorneys general that filed suit last month to block the Paramount-WBD deal, arguing the combined entity would hold roughly a third of wide-release film distribution and a comparable share of basic cable TV programming. Paramount faces a penalty of roughly $7 million owed to WBD shareholders for each day the transaction remains unclosed past September 30, and has asked the court to require the plaintiff states to post a $1.88 billion bond. An antitrust trial is scheduled for March 2, 2027.
Paramount Skydance Corporation Class B Common StockCalifornia AG cancels settlement talks, escalating antitrust opposition to Paramount-WBD deal
Warner Bros Discovery IncCalifornia AG cancels settlement talks, escalating antitrust opposition to Paramount-WBD deal
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