Paramount Pushes Back as California Scrutinises Warner Deal
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Los Angeles: While California regulators review the planned transaction due to concerns about media consolidation, employment, and theatrical picture releases, Paramount has defended its bid for Warner Bros. Discovery.
Paramount claimed in a letter to California Attorney General Rob Bonta that the merger would help maintain theatrical distribution while enhancing its capacity to compete with big streaming services.
Creators and labour organisations feared that the pact could lead to job losses and fewer theatrical releases as studios increasingly prioritise streaming platforms, but the company turned down their complaints.
In the US, the potential acquisition has drawn regulatory and political attention due to worries about editorial independence and media ownership concentration. The Justice Department of California stated that they are closely examining the deal.
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