Paramount, California Attorney General in Advanced Settlement Talks
Dow Jones09-19 06:47
Paramount is in advanced settlement talks with California officials aimed at resolving the antitrust lawsuit that stands in the way of the company's $81 billion deal to acquire rival Warner Bros. Discovery, according to people familiar with the matter.
A dozen Democratic-led states led by California Attorney General Rob Bonta sued in July to block the deal on antitrust grounds, arguing that the combination of Paramount and Warner would create too much concentration in the markets for theatrical films and cable television channels.
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