Paramount and California state officials plan to hold preliminary talks Monday on a possible settlement path for the state's lawsuit against Paramount's acquisition of Warner Bros. Discovery, the New York Times reported. Paramount requested the meeting, which follows a lawsuit filed last month by California and 11 states seeking to block the $110 billion deal.
Paramount and California state officials are set to meet Monday to discuss a potential settlement path for the state's lawsuit aimed at blocking Paramount's acquisition of Warner Bros. Discovery, the New York Times reported Saturday, citing people familiar with the discussions.
The talks are preliminary, and there is no assurance they will lead to meaningful negotiations toward a settlement, according to the report, which added that Paramount requested the meeting. Reuters could not immediately verify the report, and Paramount did not immediately respond to a request for comment outside regular business hours.
It will include senior executives and lawyers from each side and has been in the works for a little over a week, the Times added, citing one of the people.
Last month, California and 11 states sued to block Paramount's $110 billion acquisition of Warner Bros. Discovery, alleging the deal would lessen competition in film distribution and cable television and harm theaters and pay-TV distributors. States including New York, Arizona, and Minnesota argued the deal would harm theaters and television distributors, raise prices for consumers, and make wages less competitive for workers.
Source: Investing.com
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