Public Interest Coalition Presses State AGs to Fight $110 Billion Paramount–WBD Merger

Overview

• An open letter led by the Center for American Progress Action Fund urges state attorneys general to expeditiously investigate and use their authority to block Paramount’s proposed acquisition of Warner Bros. Discovery.
• Signatories argue the horizontal merger would shrink the number of major film studios from five to four, heighten market concentration, and likely raise streaming prices for consumers.
• The coalition warns of reduced competition for creative labor and flags concerns about co-ownership of CBS News and CNN, with some signers alleging First Amendment risks in their filing.
• California Attorney General Rob Bonta has said the deal is not a done deal and noted discussions with other states about potential action.
• Paramount CEO David Ellison calls the transaction pro-competitive and pro-consumer, says the company has met with AGs from both parties, touts combined Paramount+ and HBO Max scale, and notes the deal cleared the HSR waiting period while still requiring DOJ, shareholder, and international approvals.