Opposition to $111 Billion Paramount-Warner Settlement Grows as State Coalition Frays
Updated
Updated · Los Angeles Times · Sep 20
Opposition to $111 Billion Paramount-Warner Settlement Grows as State Coalition Frays
3 articles · Updated · Los Angeles Times · Sep 20
Summary
$111 billion settlement talks over Paramount Skydance’s takeover of Warner Bros. Discovery entered a critical week with mounting resistance from merger critics and some Democratic lawmakers urging attorneys general not to compromise.
CNN oversight proposals and uncertainty over whether Paramount would have to divest assets sharpened objections, as opponents argued David Ellison should not control both CNN and CBS News under one owner.
Rob Bonta has made progress with Paramount, but New York Attorney General Letitia James, Connecticut’s William Tong and at least two other states reportedly believe the proposed terms do not go far enough.
Thursday could raise pressure further: Paramount plans to ask a federal judge to require the states and Writers Guild to post a $1.88 billion bond tied to delay costs if the company ultimately wins.
Oct. 1 is the key deadline for Ellison, whose company has threatened to move operations from Hollywood if the fight drags on, a warning critics call a bluff even as California politicians fear more job losses.