Judicial regulators in California, New York and several other states are preparing a lawsuit that is focused on blocking Paramount’s pending $110 billion acquisition of Warner Bros Discovery (WBD), according to a report published this weekend.
The report, from Reuters, said the lawsuit is expected to be filed in the next few weeks, though a definitive timeline was not pinned down.
California Attorney General Rob Bonta is one of several parties expected to take part in the lawsuit, Reuters reported. The California Department of Justice is already involved in an antitrust lawsuit challenging Nexstar Media Group’s acquisition of peer broadcaster TEGNA.
Bonta’s office declined to comment when contacted by Reuters on Friday. Previously, Bonta told reporters that his office saw “red flags everywhere” in Paramount’s deal for WBD, which involves the acquisition of the company’s film studio, cable networks business, streaming platforms and other assets.
Paramount and WBD have film studios in California, and Paramount owns six licensed broadcast TV stations there.
The acquisition also faces regulatory scrutiny in Europe, where officials are gauging whether the transaction will impede competition.
Paramount has agreed to pay shareholders a fee if the transaction has not closed by October.
More Stories
- Paramount asks judge to toss lawsuit over proposed Warner Bros Discovery merger
- CBS: No plan to offer Joe Rogan spot on “60 Minutes”
- California to probe Paramount bid for Warner Bros Discovery
- California AG: “Red flags everywhere” in Paramount-Warner Bros deal
- CBS reverses copyright crusade over Colbert’s guerilla public access appearance
