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PHOENIX (AP/AZFamily) — Twelve states, including Arizona, challenged Paramount’s takeover of Warner Bros. Discovery on Monday, that argues the $81 billion mega merger would “extinguish competition” in Hollywood and threaten jobs across the industry.
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The office of California’s attorney general, who is leading the case, said the states are asking Warner Bros. and Paramount to not close their merger “until after the judicial process concludes” — and if the companies do not agree, the coalition will then file a temporary restraining order.
“If this merger goes through, Arizonans could face higher prices to see new movies and to access basic cable channels. It could also lead to job losses at movie theaters across our state,” Attorney General Mayes said in an emailed news release. “Consolidation in industry after industry will only lead us in one direction: higher prices and degraded quality and service for Arizonans. We cannot let that happen.”
Mayes is expected to comment further on the lawsuit during a press conference later Monday morning.
“The unlawful merger of these two entertainment behemoths would lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the U.S.,” California Attorney General Rob Bonta said in a statement.
Paramount, which was bought by Skydance just last year, wants all of Warner. That would mean putting HBO Max, cult-favorite titles like “Harry Potter” and even CNN under the same roof with CBS, “Top Gun” and the Paramount+ streaming service.
The states’ lawsuit could throw a wrench in those plans, at least for now. The antitrust case arrives at a pivotal time for the Paramount-Warner transaction — which, after months of what became a very public bidding war, received shareholders’ stamp of approval in April and then a blessing from the Trump administration just last month.
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