New Jersey Black, Hispanic Chambers Urge AG to Drop Paramount Merger Fight
The chambers said the merger fight would hurt New Jersey’s film industry and local businesses, while a Sept. 24 hearing approaches on Paramount’s bond request.
- New Jersey's African-American and Hispanic business chambers are urging Attorney General Jennifer Davenport to drop a lawsuit blocking the Paramount Skydance purchase of Warner Bros. Discovery, citing concerns over lost economic opportunities.
- Proponents claim the merger supports film industry growth, specifically pointing to 1888 Studios, a $1.2 billion project in Bayonne where Paramount is a major tenant that generates local jobs.
- In a Tuesday filing, the Department of Justice supported Paramount's request for a $1.88 billion bond, citing Clayton Act precedents to argue the requirement ensures "skin in the game."
- Paramount faces a $7 million daily ticking fee in the Warner Bros. Discovery contract beginning October 1, totaling over $635 million per quarter before the March 2, 2027 trial.
- Opposing the $111 billion merger, California Attorney General Rob Bonta and other state attorneys general have rejected the bond request, suggesting any payment should be limited to $10,000.
28 Articles
28 Articles
New Jersey Black, Hispanic chambers urge AG to drop Paramount merger fight - The Daily Bo Snerdley
(The Center Square) – New Jersey’s African-American and Hispanic business chambers want Attorney General Jennifer Davenport to drop a lawsuit that would block Paramount Skydance from buying Warner Bros. Discovery. The chamber leaders say the court fight would hurt business in their state and that New Jersey has spent years building up its film industry. The move adds to pressure from Hudson County Democrats who want Davenport to end the disput…
Knudsen Enters Paramount-Warner Antitrust Fight
Montana Attorney General Austin Knudsen has joined Iowa Attorney General Brenna Bird in asking the U.S. Supreme Court to stop a multistate antitrust lawsuit seeking to block Paramount Skydance’s proposed $110 billion acquisition of Warner Bros. Discovery. The filing puts Knudsen at the center of another major national antitrust fight, this time on the opposite Read more...
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