Paramount Skydance lashed out at a coalition of 12 Democratic state attorneys general that sued to block the David Ellison-led company's takeover of Warner Bros. Discovery.
Paramount Blasts States’ Lawsuit Aimed at Blocking Warner Bros. Deal, Claims Litigation Will ‘Shield’ Netflix and Tech Companies From ‘Much-Needed Competition’ Paramount Blasts States’ Lawsuit Aimed at Blocking Warner Bros.
Deal, Claims Litigation Will ‘Shield’ Netflix and Tech Companies From ‘Much-Needed Competition’ The lawsuit filed by the state AGs “distorts settled antitrust law and is based on a misrepresentation of competition in the entertainment industry today,” Paramount said Monday, after the suit was filed. The company, formed by Skydance Media’s takeover of Paramount Global in August 2025, said it will “vigorously defend the transaction.
”Hit Korean Thriller 'A Shop for Killers' Sets July Season 2 Premiere on Disney+, Hulu With 'Pachinko' and 'Drive My Car' Stars Joining Cast The company repeated its claims that the $111 billion deal to merge Paramount and Warner Bros.
“creates a stronger competitor against dominant streaming and technology platforms who have harmed the market for theatrical exhibition and jobs in the entertainment industry. ”“The lawsuit filed by the state attorneys general, in the most generous light, reflects a fundamentally flawed application of the antitrust laws and is wrong on both the facts and the law,” Paramount’s statement said.
“Delaying this transaction will only harm entertainment workers who have already suffered over recent years as technology has disrupted their livelihood and cost California tens of thousands of entertainment jobs. ”and technology companies from much-needed competition while preventing the significant benefits this transaction will deliver for consumers, creators, workers and the broader Hollywood economy.
We will continue to fight against any attempt to derail a deal that strengthens competition, expands opportunity, and positions the combined company to compete in an increasingly competitive global media landscape. ”in mid-June, which did not impose any requirements for divestitures or other concessions on the part of Paramount Skydance. The deal is still pendingParamount has said it anticipates closing the WBD deal in the third quarter of 2026.
The company has committed to paying a “ticking fee” of 25 cents per share to shareholders for every quarter the deal isn’t completed after Sept. 30 — equivalent to approximately $650 million cash value each quarter. Who Is Count Binface?
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