Overview
- California’s congressional Democrats, in a 34-member letter Thursday, urged Attorney General Rob Bonta to closely review the $110–111 billion merger over job losses and reduced consumer choice.
- Paramount disclosed that a coalition of state attorneys general has issued subpoenas seeking information on competitive effects as part of continuing investigations.
- Two press freedom groups that own Paramount shares demanded access to company records, alleging executives promised CNN changes to curry White House favor and warning of potential fiduciary breaches.
- The deal has shareholder approval and a third‑quarter closing target, yet the Justice Department can still act after its waiting period expired while U.K. regulators ready their review and the FCC examines foreign investment.
- Critics warn that $6 billion in planned cost cuts and about $79 billion in projected debt could mean more Hollywood layoffs, with ticking fees after September 30 and a $7 billion breakup fee raising the stakes if closing slips.