"Further consolidation in markets that are central to American economic life does not serve our economy, consumers, or competition well. In fact, consolidation of markets has led to increased unaffordability, a loss of good-paying job opportunities, and fewer choices for consumers."
"California Attorney General Rob Bonta said the state's Department of Justice had opened an investigation into the merger, stating the deal hasn't 'cleared regulatory scrutiny.' Bonta previously expressed antitrust concerns about a potential consolidation given the entertainment industry's importance to California's economy."
Netflix withdrew its bid for Warner Bros. Discovery, allowing Paramount Skydance's $31-per-share offer to proceed. However, California Attorney General Rob Bonta announced the state's Department of Justice opened an investigation into the merger on antitrust grounds. Bonta expressed concerns that further consolidation in the entertainment industry harms California's economy, reduces consumer choice, increases costs, and eliminates job opportunities. The bidding war began in fall 2025, with Netflix initially accepted before Paramount Skydance CEO David Ellison launched a hostile bid that ultimately prevailed when Netflix declined to increase its $27.75-per-share offer.
#antitrust-investigation #media-merger #warner-bros-discovery #paramount-skydance #regulatory-scrutiny
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