Paramount Says States' Effort To Block WBD Deal "Will Only Harm Entertainment Workers"
Deadline • • entertainment
Key Points:
- Paramount strongly opposed the antitrust lawsuit filed by 12 states aiming to block its $110 billion acquisition of Warner Bros. Discovery, calling the suit legally and factually flawed.
- The company argued the merger would enhance competition against dominant streaming platforms like Netflix, benefiting consumers, creators, and workers in the entertainment industry.
- Paramount criticized the lawsuit for protecting dominant tech streaming platforms from competition and warned that delaying the deal would harm entertainment jobs, especially in California.
- The lawsuit alleges the merger would reduce competition in pay-TV and movie studios, leading to fewer choices and higher prices for consumers.
- While US states sue, Paramount highlighted ongoing regulatory approvals abroad and noted it would pay a "ticking fee" if the deal fails to close by September 30.
