California calls Paramount's threat to leave the state 'blackmail'
Bonta says the reported move would pressure state attorneys general as Paramount faces a $7 million daily fee if the deal stalls.
- On Monday, California Attorney General Rob Bonta published a guest column refuting claims that his antitrust lawsuit against the $110 billion Paramount Skydance and Warner Bros Discovery merger is politically motivated, accusing Paramount of "spearheading a public relations campaign to spin a narrative that is simply false."
- Representing a 12-state coalition, Bonta argues the merger violates the Clayton Antitrust Act by creating illegal concentration in film distribution and cable TV, controlling nearly one-third of theatrical motion picture distribution and cable channels.
- Paramount CEO David Ellison told executives last week he is prepared to relocate operations from California if settlement talks fail, while Bonta dismissed Paramount's proposed theater contracts as "completely unenforceable" in the antitrust case.
- Trial proceedings are scheduled for March 2, 2027, with Paramount facing a potential "ticking fee" payable to Warner Bros Discovery shareholders of $7 million per day starting October 1, totaling around $1.2 billion by trial's conclusion.
- Bonta has not publicly accepted any settlement terms, stating that any remedy must be "structural" rather than "behavioral" as the sides prepare for the upcoming court battle over the entertainment landscape.
98 Articles
98 Articles
Puck's Matt Belloni on state of the Paramount-Warner Bros. Discovery merger
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The Derrick
Lodinews.comMary McNamara: David Ellison made himself the best argument for blocking the Paramount-Warner Bros. deal
LOS ANGELES — It will take someone better versed in finance, corporate law, family psychology and, perhaps, the impact of great wealth on brain chemistry than I to analyze the recent actions of Paramount Skydance Chief Executive David Ellison. To…
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Paramount Executive’s Tax Sale Reveals Retention Strategy Amid Merger Turmoil
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Business Insider
BizTocInside Paramount, employees say they have bigger concerns than a reported plan to ditch California
Paramount employees don't expect CEO David Ellison to uproot the company from California.Eric Thayer/Getty Images; Patrick T. Fallon/AFP via Getty ImagesParamount Skydance CEO David Ellison is reportedly considering moving the company out of California.Paramount employees say they aren't worried and have bigger concerns.Staffers say they're focused on what the Paramount-WBD deal might mean for their jobs.Reports that David Ellison is considering…
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