Key facts
- California Attorney General Rob Bonta announced no settlement talks are scheduled with Paramount.
- The antitrust suit seeks to block Paramount's proposed acquisition of Warner Bros Discovery.
- Bonta canceled a Monday meeting after confidential settlement discussions were leaked to the press.
- Paramount denied leaking details of the confidential discussions.
California Attorney General Rob Bonta announced on Tuesday that there are no settlement talks scheduled with Paramount regarding the antitrust suit aimed at blocking the studio's proposed $110 billion acquisition of Warner Bros Discovery. Bonta stated that he canceled a planned Monday meeting after details of confidential settlement discussions were leaked to the press, an action he described as "unacceptable."
Bonta indicated that if Paramount is willing to address the issues and engage in sincere, good-faith discussions, his office would be open to meeting. Paramount has been seeking a settlement in the case, which, along with a lawsuit from the Writer's Guild of America, represents a significant hurdle to the deal. The studio faces substantial fees and costs to maintain the acquisition if Bonta's lawsuit proceeds to a trial, which is currently scheduled for March. Bonta and other states have achieved key rulings that provide them with leverage in potential settlement negotiations.