California Attorney General Rob Bonta began an investigation into the deal shortly after the announcement.
Amid widespread opposition to Paramount’s $110 billion acquisition of Warner Bros., several US states are reportedly working together to fight the merger. according to a reuters According to the report, California and New York are among the states that are preparing to file a lawsuit to block the deal.
The deal has faced scrutiny since its announcement in February, when Paramount officially defeated Netflix in its attempt to buy Warner Bros. after multiple bids. California Attorney General Rob Bonta has particularly expressed concern about the potential consequences, saying in a statement at the time, “Further consolidation in the markets that are at the heart of American economic life does not serve our economy, consumers, or competition well. In fact, consolidation of markets has led to increased unemployment, loss of good-paying job opportunities, and fewer choices for consumers.” Bonta said the deal “should receive a full and robust review,” and said the state is “committed to fighting market consolidation that we find unlawful.”
We don’t yet know which other states are included in the lawsuit, along with California and New York. but according to reutersAccording to the source, the lawsuit is expected to be filed in the coming weeks.
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