If Paramount ultimately concludes that California’s regulatory climate is too hostile to remain here, Bonta will have no one to blame but himself.
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.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Paramount merger lawsuit could spell trouble for California’s entertainment industry
Kerry Jackson
If Paramount ultimately concludes that California’s regulatory climate is too hostile to remain here, Bonta will have no one to blame but himself.
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.
Read the op-ed here.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.