California AG Rob Bonta Discusses Paramount’s Settlement Over Merger Plan

California Attorney General Rob Bonta recently addressed the settlement of an antitrust challenge related to Paramount’s $111 billion acquisition of Warner Bros. Discovery. He emphasized the state of California’s focus on antitrust concerns rather than any pressures to keep the company’s operations in Hollywood.

During an NPR Morning Edition interview, Bonta denied that the threat of Paramount relocating influenced the timing of the agreement. He reiterated that the settlement represented the best course of action despite not being a direct endorsement of the merger.

Bonta explained that the settlement, pending judicial approval, resolves a lawsuit filed by 12 states to block the merger. A notable feature of the agreement is the creation of an editorial board designed to protect the independence of CNN and CBS News. Bonta emphasized that the board would operate without government input, relying on experienced journalists who value independence and objectivity.

The settlement’s standards for board member selection were carefully negotiated, aiming for independence. Additionally, an auditor will ensure compliance, with states retaining the option to return to court if necessary.

Despite the agreement, some critics remain unsatisfied. Connecticut Attorney General William Tong expressed disappointment that the settlement didn’t require CNN and CBS News to be fully divested. Concerns also linger about media consolidation, possible job losses, and the effectiveness of editorial safeguards.

To listen to the full interview, access the blue button provided in the original source.