State Attorneys General Challenge Paramount-warner Bros. Merger

WHO:

Deadline - A coalition of 12 Democratic state attorneys general, including those from California and New York, are involved in the lawsuit against Paramount.

Deadline - Paramount's lead trial counsel is Jeffrey Kessler.

WHAT:

CT News Junkie - The merger is projected to grant Paramount up to a 30% control over the blockbuster industry and a 27% share in the licensing of basic cable television, according to Attorney General William Tong’s office.

ABC News - Paramount's proposed purchase of Warner, including debt, is valued at nearly $111 billion based on outstanding shares.

ABC News - The Writers Guild of America filed a federal complaint alleging that the merger threatens the economic and creative health of the American entertainment industry.

ABC News - The complaint states that the merger would create fewer competitors and give the larger company “both the incentive and the ability” to lower wages and reduce the number of projects offering employment.

ABC News - The coalition of states called on Warner and Paramount to not close the merger until after a court had time to “fully evaluate” their claims.

ABC News - The states said the companies may try to complete the process as early as July 22.

ABC News - The states' emergency motion seeks to halt the merger process as early as July 22.

ABC News - Paramount's lawyer Jeffrey Kessler stated, "The plan is still to close this quarter before the end of September," despite the ongoing lawsuits.

ABC News - The lawsuit argues that the merger violates antitrust law by giving the combined company undue power in wide-release theatrical distribution, tentpole movies, and basic cable TV.

ABC News - The states claim the merger will lead to excessive concentration in the theatrical and basic cable markets.

ABC News - The states are seeking a temporary restraining order to pause the transaction as the antitrust lawsuit proceeds.

ABC News - A federal court has set a hearing for an emergency motion to temporarily halt the merger.

ABC News - The coalition of states is led by California Attorney General Rob Bonta.

ABC News - The merger is projected to grant Paramount up to a 30% control over the blockbuster industry and a 27% share in the licensing of basic cable television, according to Attorney General William Tong’s office.

ABC News - The WGA's complaint states that the merger would create fewer competitors and give the larger company “both the incentive and the ability” to lower wages and reduce the number of projects offering employment.

ABC News - The complaint alleges that the merger violates antitrust law by reducing competition in three markets: episodic TV and streaming series writing, overall TV writing deals, and screenwriting for major theatrical films.

ABC News - The states' emergency motion seeks to halt the merger process as early as July 22.

ABC News - Paramount's proposed purchase of Warner, including debt, is valued at nearly $111 billion based on outstanding shares.

ABC News - The coalition of states called on Warner and Paramount to not close the merger until after a court had time to “fully evaluate” their claims.

ABC News - The states said the companies may try to complete the process as early as July 22.

ABC News - The states' emergency motion seeks to halt the merger process as early as July 22.

ABC News - Paramount's lawyer Jeffrey Kessler stated, "The plan is still to close this quarter before the end of September," despite the ongoing lawsuits.

ABC News - Paramount has agreed to a request from 12 states to link their federal antitrust case to a pre-existing suit brought by Paramount+ subscribers.

ABC News - The lawsuit is filed in the United States.

ABC News - The hearing for the emergency motion is set for Friday.

ABC News - Paramount expects to close the merger by the end of September.