By Brian Stelter, CNN (CNN) — Lawyers for several states are finalizing an antitrust lawsuit challenging Paramount’s pending acquisition of Warner Bros. Discovery, including CNN, according to people involved in the legal process.
By Brian Stelter, CNN (CNN) — Twelve states have sued to block Paramount’s takeover of Warner Bros. Discovery, CNN’s parent, kicking off a high-stakes antitrust battle that could impede the media mega-merger.
The lawsuit, filed in federal court in northern California, marks a dramatic turn in the regulatory battle over the deal -- and a direct challenge to the Trump administration's Justice Department, which approved the merger last month.
The legal challenge to the $111 billion deal argues that the theatrical market would be harmed by a reduction in owners of wide-release, high-grossing films.
State attorneys general are trying to stop Paramount Skydance from merging with Warner Bros. Discovery. It’s the best shot left at preventing—or at least stalling—what seems inevitable.
The labor union representing film and television writers alleges that the deal breaks antitrust law and would harm wages and working conditions for writers.
Federal Communications Commission (FCC) Chair Brendan Carr speculated California could drop its joint lawsuit against Paramount Skydance’s acquisition of Warner Bros. Discovery if CNN was spun off to be its own media entity.
Federal Communications Commission Chairman Brendan Carr said on Wednesday he doubts a 12-state coalition, led by California, will succeed in blocking the pending merger between Paramount Skydance and Warner Bros. Discovery.
