David Ellison, head of Paramount Skydance, has said that when his company completes its $111 billion acquisition of Warner Bros. Discovery, it will likely look to make about $6 billion in cuts to the combined company. File Photo by John Angelillo/UPI | License Photo
June 5 (UPI) -- The attorneys general of several states are preparing to file a lawsuit in the coming weeks to prevent the $111 billion merger of Paramount Skydance and Warner Bros. Discovery.
As many as 10 states are involved in a California-led antitrust investigation of the merger, which would create an entertainment monolith comprised of two of the biggest major players in television, film and streaming globally, the Los Angeles Times, Bloomberg and The Wrap reported.
Officials in the states have started working on the lawsuit and where to file it, the news organizations confirmed, and the litigation could potentially be filed before the end of June.
Although California Attorney General Rob Bonta told The Wrap in early April that "red flags are everywhere when you have a merger of this type," his office did not confirm that the lawsuit was taking shape and could be filed soon.
