A coalition of 12 states led by California is suing to block the $111 billion Paramount Skydance-Warner Bros. merger, arguing it would reduce competition in theatrical distribution, blockbuster films, and basic cable licensing. The challenge (PDF) defies the DOJ's approval of the deal. Variety reports: The coalition, led by California Attorney General Rob Bonta, alleges that the $111 billion transaction violates the Clayton Act by lessening competition in three distinct markets: wide-release theatrical distribution, "top-grossing" theatrical distribution, and basic cable licensing. "The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie...
Read the full article at the source.
Comments (0)
No comments yet. Be the first to comment!