A planned Monday meeting between David Ellison’s Paramount Skydance and California state officials, designed to kick off settlement talks over the state’s lawsuit to block the entertainment company’s proposed acquisition of Warner Bros. Discovery, has been called off at the last moment, California attorney general Rob Bonta said. He is one of a group of state attorneys general (AG) that have taken aim at the planned mega-merger.
“Not only did Paramount leak the alleged substance of settlement discussions, but they misrepresented these discussions, demonstrating a lack of good faith,” Bonta said in a statement. “As soon as Paramount stops playing games and engages sincerely, my office is happy to meet again.”
A dozen AGs, led by Bonta, whose antitrust lawsuit last month seeking to block the merger has been a thorn in Ellison’s side, have spoken out against the mega-deal, which could lead to the divestiture of Warner Bros. assets and cost more than $1 billion in “ticking-clock” fees ahead of a March trial, among other potential fallout.
Ellison has in recent weeks sought to fight back with a media blitz, a threat to leave California and a motion to force Bonta’s hand by making taxpayers pay the ticking-clock fees.
