SACRAMENTO, Calif., July 13 -- The California Attorney General issued the following press release:
LOS ANGELES- California Attorney General Rob Bonta today led a coalition of12attorneys general in filing a lawsuit challenging the $110 billion acquisition of Warner Bros. Discovery, Inc. (Warner Bros.) by Paramount Skydance Corporation (Paramount). The proposed merger, the largest in Hollywood history, would combine two of Hollywood's five major filmdistributorsand two of the five major basic cable channel owners, extinguishing competition between Paramount and Warner Bros., and inflicting substantial harm on movie theaters, basic cable distributors and, ultimately, audiences nationwide. In the U.S. alone, if allowed to merge, the combined t...