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Channel NewsAsia
Channel NewsAsia
AsiaPac · 12 mins ago
US states could sue next week to block Paramount-Warner Bros deal, sources say
July 8 : U.S. states concerned that Paramount's $110 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.The sources did not specify the type of competition that the states were concerned about. But advocacy groups and some state regulators have warned that subscription prices for streaming platforms could rise and the merged companies could lay off workers and offer a narrower range of films, news and other content.If the deal is delayed because of a court challenge, costs could mount for Paramount, which is already expected to carry around $80 billion in debt after the transaction closes.Paramount CEO David Ellison has agreed to pay Warner Bros. Discovery shareholders a 25-
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