Gavin Newsom Reportedly Concerned About State Antitrust Suit Against Paramount-Warner Bros. Merger
Governor Gavin Newsom is concerned about the antitrust lawsuit filed by 12 state attorneys general led by California against Paramount‘s $111 billion...
Key points
- Governor Gavin Newsom is concerned about the antitrust lawsuit filed by 12 state attorneys general led by California against Paramount‘s $111 billion takeover of Warner Bros.
- In a Friday report, sources told the WSJ that Newsom has said if the merger is blocked due to the lawsuit, state employment will suffer.
- The outlet also notes that “Newsom’s office has encouraged Attorney General Rob Bonta’s office, which has independent authority to file such suits, to find a resolution out of court.” Related Stories Reps for Newsom and Bonta declined the WSJ‘s requests for comment; The Hollywood Reporter also reached out to California’s governor for comment.
- “There is no debate here: This merger will snuff out competition, drive up prices, diminish content quality, and produce fewer movies and shows each year,” said California Attorney General Rob Bonta at a press conference at the time.
What happened
Governor Gavin Newsom is concerned about the antitrust lawsuit filed by 12 state attorneys general led by California against Paramount‘s $111 billion takeover of Warner Bros. In a Friday report, sources told the WSJ that Newsom has said if the merger is blocked due to the lawsuit, state employment will suffer. The outlet also notes that “Newsom’s office has encouraged Attorney General Rob Bonta’s office, which has independent authority to file such suits, to find a resolution out of court.” Related Stories Reps for Newsom and Bonta declined the WSJ‘s requests for comment; The Hollywood Reporter also reached out to California’s governor for comment. “There is no debate here: This merger will snuff out competition, drive up prices, diminish content quality, and produce fewer movies and shows each year,” said California Attorney General Rob Bonta at a press conference at the time. In a court document filed on July 24, Paramount said they will not consummate the acquisition until June 2027 or five days after the court issues a ruling on the case, whichever is earlier. On Monday, Ari Emanuel, WME executive chairman and CEO of TKO, wrote an op-ed for the WSJ in support of Paramount’s...
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- Some Warner Bros. Execs Are Hoping States’ Antitrust Lawsuit Derails Paramount Deal
- Benedict Cumberbatch, Alan Cumming, Benedict Wong Pen Op-Ed Urging U.K. to Block “Dangerous” Paramount-Warner Bros. Merger