California attorney general vows to scrutinize Paramount's deal for Warner Bros. Discovery
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California Atty.Gen.
Rob Bonta called out the federal government for largely vacating its role as antitrust regulator, saying it’s now up to California and other states to look out for consumers’ interests.Bonta, the state’s top law enforcement officer, spoke Thursday at a Capitol Forum conference in Beverly Hills on antitrust issues and the future of Hollywood.His appearance came just days after the U.S.
Department of Justice settled its case against Live Nation and Ticketmaster a week into a high-stakes trial, leaving state attorneys general to try to continue to fight that battle on their own.The Justice Department’s about-face revealed a major fracture in antitrust enforcement.State attorneys general — particularly in Democratic-controlled states — say their role is becoming increasingly important to challenge alleged anti-competitive behavior.
President Trump has “abdicated the federal administration’s responsibilities to hold big corporations accountable to the law and protect a competitive marketplace,” Bonta said.Bonta’s appearance comes as another major Hollywood merger appears to be sailing through its federal review with Trump’s tacit approval: Paramount Skydance’s proposed $110-billion deal for Warner Bros.Discovery.
The merger, announced late last month, has rattled Hollywood unions and some antitrust experts.It would combine legendary film studios, robust television production units and two prominent news organizations, CBS News and CNN, as well as dozens of cable channels.
“Paramount and Warner Bros.haven’t cleared regulatory scrutiny,” Bonta said.
“My office has an open investigation into [the deal] and we intend to be vigorous in our review.”California could bring its own lawsuit to block Paramount’s takeover, or join with other state attorneys general to launch legal proceedings to try thwart the deal or extract con...