The proposed $110 billion acquisition of Warner Bros. Discovery, Inc. (NASDAQ:WBD) by Paramount Skydance, Inc. (NASDAQ:PSKY) is facing growing opposition after the Screen Actors Guild-American Federation of Television and Radio Artists, or SAG-AFTRA, backed a multistate legal effort to block the deal.
SAG-AFTRA Backs States Challenging the Deal
On Saturday, SAG-AFTRA’s National Board adopted a resolution opposing the transaction and voiced support for the attorneys general from 12 states seeking to stop the merger in court.
The union, which represents about 160,000 actors, broadcasters, recording artists, stunt performers and other media professionals, said the acquisition should not move forward without legally binding safeguards to prevent production cuts and ensure a greater share of film and television projects are produced in the U.S.
The move adds labor opposition to an already intensifying antitrust battle over one of the largest media mergers in recent years.
