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California AG Cancels Paramount Settlement Talks Over WBD Deal
Variety • • general
Key Points:
- California Attorney General Rob Bonta has canceled planned settlement talks with Paramount regarding the state’s lawsuit to block David Ellison’s proposed $111 billion acquisition of Warner Bros. Discovery, citing bad faith actions by Paramount.
- Bonta leads a coalition of 12 states challenging the merger, arguing it would give the company excessive control over cable television and movie production.
- The cancellation followed allegations that Paramount leaked and misrepresented details from a previous settlement discussion, prompting Bonta to accuse the company of lacking good faith.
- The canceled meeting had been seen as a potential step toward resolving the case, especially after Paramount threatened to exit California, but Bonta maintains any settlement must include structural remedies such as asset sales.
- Paramount’s response to the accusations has not been publicly detailed, with Variety seeking comment from the California Attorney General’s office.
