California Attorney General Rob Bonta states no settlement talks with Paramount regarding antitrust suit

California Attorney General Rob Bonta stated on Tuesday that there are no settlement discussions scheduled with Paramount Skydance concerning the antitrust lawsuit aimed at blocking the studio's proposed $110 billion acquisition of Warner Bros Discovery. Bonta canceled a scheduled meeting on Monday after details of confidential settlement discussions were leaked to the press, which he deemed "unacceptable." Bonta remarked, "If they are willing to clean things up and engage in a way that is sincere and in good faith, we will be where we always will be with any party in any case that we’re involved in, which is happy to meet," during a press conference focused on public safety issues. Paramount has been advocating for a settlement in the case, which is the final obstacle to the acquisition, alongside a parallel lawsuit from the Writer’s Guild of America. The studio is facing significant fees and costs to maintain the deal if Bonta's lawsuit proceeds to a trial set for March. Bonta and other states have secured key rulings so far, providing them with leverage in any potential settlement discussions. Paramount stated it was not the source of the leaks. A spokesperson for Paramount expressed on Monday that the company shares Bonta's concerns regarding the public discussions and misreporting surrounding the deal. Bonta reiterated concerns that the merger of two major Hollywood studios could lead to increased prices for consumers, reduced choices, and lower quality films and television series. He referenced a report from Los Angeles County predicting a loss of 4,500 film and television jobs within three years of the companies merging operations, which would impose an economic burden on the community. The attorneys general are pursuing remedies that address their concerns about the deal's potential effects on widely released films and basic cable TV services. Bonta stated, "They know exactly what I’m asking for, and it’s incumbent upon them if they wish to make proposals that align with what I’m looking for and what the other attorneys general are looking for. They haven’t." He noted that promises to release a combined 30 films a year from Paramount and Warner Bros do not meet the remedies he and other attorneys general are seeking.