Judge Reviews Settlement After California AG Ends Paramount-Warner Antitrust Lawsuit
U. S. District Judge Araceli Martínez-Olguín said she will review the consent decree that resolves the antitrust case brought by California Attorney General Rob Bonta against Paramount-Skydance’s $110 billion acquisition of Warner Bros. Discovery, according to a filing reported on 27 September.
The dispute began after the Federal Communications Commission granted Paramount-Skydance a waiver allowing sovereign-wealth funds from Saudi Arabia, the United Arab Emirates and Qatar to hold up to 49. 5 % non-voting shares in the combined company. Senators Bernie Sanders, Elizabeth Warren and Cory Booker, as well as media-rights groups, criticized the foreign ownership and the settlement terms. Throughout September, Paramount and the state attorneys general negotiated a settlement that required a minimum of 30-36 theatrical releases per year, editorial oversight, and commitments to keep Pluto TV and other assets, leading Bonta to drop his lawsuit on 17 September.