23 Hrs
Source:
Los Angeles Times
California agreement on Paramount-Warner merger causes tension
California Attorney General Rob Bonta approved the $111-billion merger between Paramount and Warner Bros. amid pressure from state leaders and concerns from other Democratic attorneys general that certain concessions were insufficient. The deal includes commitments from Paramount to invest in film production, maintain editorial independence for CNN and CBS News, and divest certain assets if terms are not met. Some coalition members expressed disappointment, fearing the agreement fell short of their expectations, but Bonta emphasized it addressed key antitrust concerns and prevented Paramount’s potential departure from California.
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