States Ready to Sue Over Paramount-Warner Bros. Deal
Attorney generals from several states are preparing a lawsuit this week to block Paramount Global's $111 billion acquisition of Warner Bros. Discovery, citing competition concerns in the blockbuster film market.
Attorney generals from a coalition of states are set to file a lawsuit as early as this week to halt Paramount Global's proposed $111 billion purchase of Warner Bros. Discovery, officials familiar with the plan said. The draft complaint alleges that the merger would reduce competition in the market for tent-pole films, the high-budget blockbusters that generate a substantial share of studio revenue, among other antitrust concerns.
California is leading the effort, with New York, Washington and Connecticut expected to join the suit, according to multiple sources who spoke on condition of anonymity because the matter is not yet public.