Judge Told Paramount/WBD Merger Conditions Offer Public "Virtually Nothing"
Media advocacy groups are urging a judge to reject a settlement between Paramount and Skydance that would allow Paramount to finalize its merger with Warner Bros. Discovery.
Free speech and media advocacy groups have asked a judge to block a California settlement with Paramount and Skydance. The settlement would permit Paramount to finalize its $111 billion merger with Warner Bros. Discovery.
Twelve states, led by California, filed a lawsuit in July to block the deal. U.S. District Judge Araceli Martínez-Olguín initially delayed the merger, stating that Paramount combining with Warner Bros. Discovery would likely reduce competition substantially and violate antitrust laws.
California Attorney General Rob Bonta announced a settlement with Paramount earlier this week, which the other states involved in the lawsuit have joined. Judge Martínez-Olguín is now tasked with deciding whether to approve this settlement.
The coalition of groups argues in a court filing that the deal offers residents of the involved states "virtually nothing." This filing was submitted by organizations including the Committee for the First Amendment and the Freedom of the Press Foundation.