The Straits Times
AsiaPac · 9 mins ago
US states could sue next week to block Paramount-Warner Bros deal, sources say
LOS ANGELES - US states concerned that Paramount’s US$110 billion (S$142 billion) acquisition of Warner Bros Discovery will hurt competition could sue to block the deal as soon as next week, two sources familiar with the matter told Reuters.California Attorney-General Rob Bonta has taken the lead in investigating whether the deal violates US laws against mergers that would unlawfully harm competition.A spokesperson for Bonta’s office declined to comment. A Paramount spokesperson did not immediately respond to a request for comment.The deal, which would combine two of Hollywood’s four major studios, has drawn criticism from actors, writers and others in Hollywood who fear job losses.Theatre owners also oppose the combination of the Warner Bros movie studio, maker of the Harry Potter and
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