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BusinessQuiet 5d · day 6

Settlement talks fracture as Paramount merger faces critical week

Antitrust opposition splinters over proposed compromises that critics say don't go far enough to curb media power.

newest coverage 5d agosummary written 4d ago4 pieces1 likes & upvotes MastodonNewswires

What to know

  • Settlement negotiations between California AG Bonta and Paramount CEO Ellison over a $111 billion merger are entering a critical week, with proposed compromises including a bipartisan editorial board for CNN.
  • The state coalition is fracturing: New York AG James and Connecticut AG Tong privately oppose the settlement, believing it fails to adequately prevent media monopoly power.
  • Congressional Democrats and merger critics are publicly urging state AGs to reject any deal allowing Paramount to control both CBS News and CNN.
  • Paramount is demanding a $1.88 billion bond from opposing states and the Writers Guild, a tactic designed to destabilize the coalition and accelerate settlement talks.

“Potential settlement talks are confidential. We cannot confirm or deny whether settlement talks are occurring or their alleged substance.”

Rob Bonta spokesperson, California Attorney General's office · LA Times ↗

David Ellison Paramount Chief ExecutiveRob BontaRob Bonta California Attorney GeneralLetitia JamesLetitia James New York Attorney GeneralWilliam Tong Connecticut Attorney General

How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts

Peak 3 pieces in two hours at Sep 20, 5 PM; 4 pieces over 6 days (2 articles · 2 posts) Sep 20, 5 PM — 3 pieces · 1 article · 2 posts — Mastodon 2, Newswires 1Sep 20, 7 PM — quietSep 20, 9 PM — quietSep 20, 11 PM — quietSep 21, 1 AM — quietSep 21, 3 AM — quietSep 21, 5 AM — quietSep 21, 7 AM — quietSep 21, 9 AM — quietSep 21, 11 AM — 1 piece · 1 article — Newswires 1Sep 21, 1 PM — quietSep 21, 3 PM — quietSep 21, 5 PM — quietSep 21, 7 PM — quietSep 21, 9 PM — quietSep 21, 11 PM — quietSep 22, 1 AM — quietSep 22, 3 AM — quietSep 22, 5 AM — quietSep 22, 7 AM — quietSep 22, 9 AM — quietSep 22, 11 AM — quietSep 22, 1 PM — quietSep 22, 3 PM — quietSep 22, 5 PM — quietSep 22, 7 PM — quietSep 22, 9 PM — quietSep 22, 11 PM — quietSep 23, 1 AM — quietSep 23, 3 AM — quietSep 23, 5 AM — quietSep 23, 7 AM — quietSep 23, 9 AM — quietSep 23, 11 AM — quietSep 23, 1 PM — quietSep 23, 3 PM — quietSep 23, 5 PM — quietSep 23, 7 PM — quietSep 23, 9 PM — quietSep 23, 11 PM — quietSep 24, 1 AM — quietSep 24, 3 AM — quietSep 24, 5 AM — quietSep 24, 7 AM — quietSep 24, 9 AM — quietSep 24, 11 AM — quietSep 24, 1 PM — quietSep 24, 3 PM — quietSep 24, 5 PM — quietSep 24, 7 PM — quietSep 24, 9 PM — quietSep 24, 11 PM — quietYesterday, 1 AM — quietYesterday, 3 AM — quietYesterday, 5 AM — quietYesterday, 7 AM — quietYesterday, 9 AM — quietYesterday, 11 AM — quietYesterday, 1 PM — quietYesterday, 3 PM — quietYesterday, 5 PM — quietYesterday, 7 PM — quietYesterday, 9 PM — quietYesterday, 11 PM — quietToday, 1 AM — quietToday, 3 AM — quietToday, 5 AM — quietToday, 7 AM — quietToday, 9 AM — quietToday, 11 AM — quietToday, 1 PM — quiet 12
Sep 21Sep 22Sep 23Sep 24yesterdaynow · 2:27 PM ET
  1. 2

    Paramount demands $1.88 billion bond from opposing states and WGA

    Paramount's lawyers are scheduled to ask U.S. District Judge Araceli Martínez-Olguín to require the 12 states and Writers Guild of America to post a $1.88 billion bond covering delay-related deal costs, should Paramount eventually prevail. The bond demand is designed to create internal pressure within the state coalition.

    1. 1 outlet Opposition grows to Paramount-Warner Bros. merger settlement as deal enters critical week

      first by LA Times, 5d ago

  2. background

    Paramount merger faces critical week as settlement talks intensify — California Attorney General Rob Bonta and 11 other state attorneys general began settlement negotiations over Paramount Skydance's $111 billion acquisition of Warner Bros. Discovery. Bonta and David Ellison reported progress in talks, though details remain confidential.

  3. 1

    Congressional Democrats urge AGs to reject settlement

    Representatives Jamie Raskin and Ro Khanna publicly called on state attorneys general to oppose the settlement, arguing that consolidation of CBS and CNN under one owner poses excessive media concentration risks.

    “State Attorneys General, please hang tough against the giant proposed Paramount-Warner Brothers merger.”
    — Rep. Jamie Raskin (D-Md.)
  4. background

    Settlement proposal includes editorial board for CNN, asset-sale status unclear — Details of the settlement proposal emerged, including creation of a bipartisan editorial board to monitor CNN—a Warner property that would fall under Paramount CEO David Ellison's control along with CBS News. It remained unclear whether the deal would require Paramount to divest assets, something Bonta has repeatedly demanded.

  5. background

    Coalition fractures: James and Tong withhold support for settlement — New York AG Letitia James and Connecticut AG William Tong privately expressed reservations about the proposed settlement, viewing the compromises as insufficient to address monopoly power in film and television. Their refusal to sign on weakens Bonta's negotiating position, as he needs all state coalition members' approval to finalize any deal.