California deal on Paramount-Warner Bros. merger spurs frustration, questions about political pressure

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Rob Bonta’s deal to allow the $111-billion Paramount-Warner Bros.merger to proceed was struck amid political pressure from state leaders and concern from some Democratic attorneys general that concessions from the studio fell short, according to multiple sources familiar with the negotiations.As recently as this weekend, New York Atty.

Gen.Letitia James and Connecticut Atty.

Gen.William Tong — who had signed on to the lawsuit — had said they needed more concessions, according to three knowledgeable sources close to the negotiations.In an interview with The Times on Tuesday, Tong said Bonta was “doing his very best in very difficult circumstances” to steer the coalition to a favorable outcome, but amid “a lot of political pressure” from others in California that “did not help.”“I’m not going to sugarcoat it.

This is ultimately not what I wanted,” Tong said.Tong said one of his chief concerns — shared by others in the 12-member coalition of states — was with the merger’s consolidation of CNN and CBS News under Paramount Skydance Chief Executive David Ellison, the billionaire media mogul close to President Trump and son of Oracle co-founder and Republican mega-donor Larry Ellison.Tong raised similar concerns after the announcement of the deal, when he said publicly that his state had “led the fight to the bitter end to protect the editorial independence of CNN and CBS News,” and that he was “deeply disappointed that we could not do more.”Paramount declined to comment.With its economy and global reputation heavily intertwined with Hollywood’s allure and ability to survive, California had more at stake in the negotiations.In exchange for the states lifting their antitrust challenge, Bonta said Monday that the studio had agreed to either produce 30 ...