California AG Cancels Settlement Meeting with Paramount in WBD Merger
California Attorney General Rob Bonta on Sunday canceled mediation talks with Paramount Skydance over its proposed merger with Warner Bros. Discovery, throwing another twist into a monthslong battle over the future of two of Hollywood’s biggest studios.
TL;DR
- California Attorney General Rob Bonta canceled mediation talks with Paramount Skydance.
- The talks were concerning the proposed merger with Warner Bros. Discovery.
- Bonta cited accusations of bad faith and leaked meeting details as the reason for cancellation.
- California and 11 other states filed an antitrust lawsuit to block the merger last month.
- The lawsuit argues the merger would unlawfully weaken competition in the movie studio and cable television markets.
- A trial for the case is scheduled for March.