Rob Bonta’s crusade against a big Hollywood merger could have drastic repercussions for the entertainment industry in California. The state’s Attorney General says his lawsuit is to protect jobs, but those might be in New Jersey soon.
Warner Bros. Discovery and Paramount Skydance have agreed to a deal in which the latter will acquire the former for $110 billion. It is a private-sector arrangement with both parties voluntarily accepting its terms. Neither force nor the threat of force was used to complete the deal.
The merger isn’t happening because Paramount is too powerful. It’s happening because the traditional television business is shrinking, streaming competition is fierce, and legacy media companies are struggling to remain profitable.
Yet Bonta and 11 other state attorneys general can’t leave a private transaction alone. They believe the merger violates antitrust law. Whether it actually does is another matter.
