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2 weeks ago

California AG blasts Paramount-WBD merger as ‘illegal,’ says threat to leave state is ‘blackmail’ effort

California Attorney General Rob Bonta believes Paramount’s planned takeover of Warner Bros. Discovery (WBD) is simply "an illegal merger," as he appears to be on a crusade to prevent it from happening. Paramount CEO David Ellison is seeking to acquire WBD in a $111 billion deal expected to close during the third quarter of this year. But the mega-merger has irked critics who fear combining two major Hollywood studios would hurt the industry while giving too much power to Ellison’s Paramount.Bonta on Monday led a group of 12 state attorneys general in filing a lawsuit challenging the merger, cl...