CBS Sports parent company Paramount is pushing hard to settle its legal differences with a dozen U.S. states and complete a $110 billion takeover of Warner Bros. Discovery, if possible, but the pathway to do so is particularly rocky.
Paramount and California attorney general Rob Bonta, who is leading an antitrust lawsuit against the company, held an initial meeting last week, which proved to be a breakthrough after a federal judge set a trial schedule not set to begin until March 2027. After an alleged leak of that session, however, Bonta called off a subsequent meeting scheduled for Monday.
“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.”
Several political and industry leaders, particularly in California, have called for a settlement, including state Gov. Gavin Newsom, Los Angeles Mayor Karen Bass, the Directors’ Guild of America, and the trade organization Cinema United.
Paramount’s merger deal, if completed, would include WBD’s TNT Sports. The company has not commented about Bonta’s latest statement, but has said the legal claim “distorts settled antitrust law.”
