California Attorney General Rob Bonta canceled a settlement meeting with Paramount Skydance representatives regarding a proposed merger with Warner Bros. Discovery. Bonta halted the talks after accusing Paramount of leaking and misrepresenting details from a preliminary session. The Attorney General described the company's conduct as a lack of good faith.
This cancellation stalls the resolution of an antitrust lawsuit filed by California and 11 other states. The legal challenge aims to block the $111 billion deal. Prosecutors allege the merger would unlawfully reduce competition in the film and cable television sectors.
The lawsuit claims the deal could result in higher prices and fewer consumer options. Bonta indicated his office is willing to meet again once Paramount engages sincerely and stops playing games.