California AG Bonta Backs Structural Fixes in $111 Billion Paramount-WBD Suit
Updated
Updated · Deadline · Aug 11
California AG Bonta Backs Structural Fixes in $111 Billion Paramount-WBD Suit
3 articles · Updated · Deadline · Aug 11
Summary
Rob Bonta said California would consider settling the Paramount-WBD antitrust case only through structural remedies, rejecting behavioral promises such as David Ellison’s pledge to release 30 films a year.
The attorney general said enforceable fixes would keep certain corporate entities separate in the challenged markets, while calling the 30-film commitment an “old stale promise” that would not solve competition concerns.
Set for trial in March, the lawsuit seeks to block the $111 billion merger on grounds it would harm competition in wide-release films, blockbuster films and cable programming.
Bonta also rejected divesting CNN as a remedy and denied Ellison camp claims that the case is politically driven to stop CBS News and CNN from coming under the Ellisons.
His comments came hours after reports that Ellison plans to begin moving Paramount out of California on Oct. 1 if the AG’s office does not open settlement talks by then.