Paramount to meet with California attorney general at high-stakes meeting over antitrust suit

Paramount and California Attorney General Rob Bonta will meet for high-stakes talks Monday over possible a settlement in the state’s antitrust case against the company.Attorney General Rob Bonta and 11 other states have sued to stop Paramount’s $111 billion merger with Warner Bros.Discovery, which is is currently on hold for a March trial in federal court in Oakland.The two parties have said they’re open to negotiations for a settlement but so far have been unable to reach an agreement.Bonta said Thursday it would need “robust” concessions from Paramount boss David Ellison to address any anticompetitive risks from the merger.“If Ellison and Paramount want to come to the table in good faith and talk, we want to talk, too.

We’re happy to have that conversation,” Bonta said.California's top news, sports and entertainment delivered to your inbox every day.

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Never miss a story Bonta has called the merger “unlawful” and said it would lead to “higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the U.S.”Ellison is eager to reach a settlement, since a lengthy court battle could force Paramount to shell out an extra $7 million per day until the deal is closed.Paramount reportedly asked for the Monday meeting.The talks will include senior executives and lawyers for Paramount and top lawyers with the attorney general’s office, the New York Times reported.Paramount has pledged various commitments to try to get a deal done, such as promising to make 30 films a year for the next three years.

Those proposals have gone nowhere with Bonta.California Post News: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedInCalifornia Post Sports Facebook, Instagram, TikTok, ...