California Attorney General Rob Bonta said on the 25th that no settlement talks are currently scheduled regarding the antitrust lawsuit seeking to block media giant Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery. A settlement meeting scheduled for the 24th was called off, and Bonta accused Paramount of lacking good faith by leaking details of a previous meeting and misrepresenting the discussions. At a press conference on public safety, Bonta said he would be willing to meet if the other side approached talks sincerely and in good faith, while reiterating concerns that the merger of two major Hollywood studios would raise consumer prices, reduce choices, and lower the quality of films and TV shows. He also cited a Los Angeles County report predicting that 4,500 film and television-related jobs would be lost within three years of the merger, dealing a blow to the local economy.
Paramount Skydance Corporation Class B Common StockCalifornia AG's antitrust lawsuit and lack of settlement talks threaten the $110B acquisition.
Warner Bros Discovery IncAntitrust lawsuit and no settlement talks jeopardize the merger with Paramount Skydance.
