California AG cancels settlement meeting with Paramount in WBD merger

California Attorney General Rob Bonta on Sunday canceled mediation talks with Paramount Skydance over its proposed merger with Warner Bros. Discovery, throwing another twist into a monthslong battle over the future of two of Hollywood’s biggest studios.

Paramount had planned a $111 billion acquisition of Warner Bros. But Bonta led California and 11 other states in bringing an antitrust lawsuit to block the deal last month, arguing the merger would wield excessive power across the movie studio and cable television markets, unlawfully weakening competition. A trial for the case is set for March.