US State Attorneys General Move to Block Paramount‑Warner Bros $110B Merger

California Attorney General Rob Bonta said a decision on whether to formally oppose Paramount's $110 billion acquisition of Warner Bros is due soon, citing red flags over competition and industry impact. About ten state attorneys general, including those from New York, Washington, Oregon and Colorado, are drafting a lawsuit to block the deal and have issued subpoenas to Paramount.

The merger, already approved by shareholders, is slated to close by the end of the third quarter, with the Department of Justice and European regulators also reviewing it. Critics warn the combined firm could reduce wages for film crews, raise ticket prices and limit options for independent theaters and streaming services. If the transaction fails, Paramount would owe Warner Bros a $7 billion termination fee and a quarterly "ticking" payment to shareholders.