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State AGs Join DOJ in Warner Merger Probe
20 Feb
Summary
- California's AG scrutinizes the Warner Bros. Discovery merger.
- At least 13-14 state attorneys general are investigating the deal.
- Netflix notes Paramount's DOJ waiting period doesn't mean clearance.
California Attorney General Rob Bonta has intensified scrutiny over the Warner Bros. Discovery merger, joining the Department of Justice and international regulators in their review. Bonta asserted that increased market consolidation negatively impacts the economy, consumers, and competition, leading to higher costs and fewer job opportunities.
California, with its significant film and entertainment industry, is committed to a thorough review of the proposed transactions. The state is actively fighting market consolidation deemed unlawful. This state-level oversight is becoming more prevalent, with research indicating that 13 to 14 attorneys general, from both Democratic and Republican parties, are investigating the Warner Bros. Discovery deal.
Meanwhile, Paramount announced it had cleared a waiting period following a second request for information from the DOJ regarding its unsolicited offer for Warner Bros. Discovery. However, Netflix dismissed this development, clarifying that this milestone does not signify regulatory clearance for Paramount.
