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Rob Bonta Cancels Paramount Settlement Meeting After Alleged Leak of Confidential Discussions

California Attorney General Rob Bonta canceled a scheduled meeting with Paramount to discuss a potential settlement regarding the $110 billion merger with Warner Bros. Discovery. The cancellation followed reports that the company leaked the alleged substance of confidential negotiations, which Bonta claimed demonstrated a lack of good faith. While Paramount denied being the source of the leaks, Bonta expressed readiness to meet again once the company stops "playing games." Bonta is leading a coalition of 12 Democratic state attorneys general who sued to block the merger, arguing that it creates a presumptively illegal market concentration. The administration announced that the merger has received approval from most global regulators, but the states are seeking "robust structural remedies," such as divesting some cable networks and keeping the movie studios separate. Paramount CEO David Ellison is eager to close the deal, as the company faces a "ticking fee" of $7 million per day for every day the merger remains unclosed after September 30. A trial is scheduled for March next year.

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