California AG demands strong concessions from Paramount to settle antitrust suit over Warner merger

California Attorney General Rob Bonta stated that a settlement with Paramount would require “really robust structural remedies” to mitigate antitrust risks tied to its $110 billion acquisition of Warner Bros. Discovery. He argued that the merged entity would command about one-third of both the film market and cable TV programming, prompting the need for significant concessions from Paramount’s chief David Ellison.

Bonta noted that the lawsuit does not concern streaming or one outlet, despite Paramount’s attempts to shift the discussion. He warned that failure to settle by Oct. 1 could impose a $7 million daily fee on Paramount. Although major theater chains have recently supported the deal after Ellison promised 30 exclusive theatrical releases each year for three years, Bonta maintains that the core concerns about market concentration remain unchanged.