Paramount Skydance open to selling CNN to clear Warner Bros. merger

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Paramount Skydance is willing to sell CNN if that would resolve the antitrust lawsuit blocking its $110 billion acquisition of Warner Bros. Discovery. Chief legal officer Makan Delrahim said at Politico's California Agenda conference that a CNN sale is on the table to make the deal look less monopoly-like. The suit, led by California Attorney General Rob Bonta and 11 other states, argues the combined media behemoth could raise prices and reduce competition. Delrahim also became the first Paramount Skydance official to publicly state the company may quit California, citing a fiduciary duty to shareholders and noting potential savings of $500 million per year in taxes. The merger has already secured clearances from U.S. federal regulators, the U.K., the EU, China, and elsewhere, leaving the lawsuit as the last major hurdle.

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