Commentary: As Trump torpedoes antitrust enforcement, the states fill the vacuum
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Set us as preferred Only a few days ago, Paramount Skydance’s planned $111-billion takeover of Warner Bros.Discovery appeared to be on the glide path to completion.
The deal, which would be the largest merger in Hollywood history, had won approval from several foreign governments and, on June 12, Justice Department antitrust regulators.The Justice Department’s assent looked to be a major step toward fulfilling the ambitions of David Ellison, the son of multibillionaire tech tycoon Larry Ellison, to bring together Paramount and Warners, which owns CNN and CBS among other properties, under one roof.‘I will not let Warner Bros.
and Paramount merge without a fight.’— Rob Bonta, California attorney general The Justice Department’s action ignited suspicions that the Ellisons had profited from their support of President Trump.But it has turned out not to be the last word on the deal.
The very next day, California and 11 other states filed a motion to block the merger, stepping in where the Justice Department chose not to tread.“I will not let Warner Bros.
and Paramount merge without a fight,” California Atty.Gen.
Rob Bonta said in announcing the states’ action.A hearing on the motion is scheduled for Friday in San Francisco federal court.Commentary on economics and more from a Pulitzer Prize winner.
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There’s more to this development than an effort to block Ellison’s attempt to repave the entertainment landscape for his own benefit, even though, as my colleague Meg James r...