India, July 14 -- A coalition of 12 attorneys general, led by California AG Rob Bonta, has filed a lawsuit against the proposed $110 billion acquisition of Warner Bros. Discovery, Inc. (WBD) by Paramount Skydance Corp. (PSKY), asking the court to block the deal.
The lawsuit, filed in the U.S. District for the Northern District of California, alleges that the deal would extinguish competition between both companies and inflict substantial harm on movie theaters, basic cable distributors and, ultimately, audiences across the United States.
In the proposed merger, deemed to be the largest in Hollywood history, two of Hollywood's five major film distributors and two of the five major basic cable channel owners will be combined. In the U.S. al...