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Bonta: Paramount 'eager' for settlement, dismisses Ellison's threats

Created at 11 Aug · 11:06 PM1 source↑ Market-relevant
IN SHORT

California Attorney General Rob Bonta stated Paramount is "eager" for a settlement in the antitrust case concerning its acquisition of CNN, dismissing CEO David Ellison's threats to relocate the studio as "blackmail." Bonta expressed confidence in his legal team's success in the ongoing litigation.

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Who's Involved

Bonta
California Attorney General
Paramount
Company involved in an antitrust case
David Ellison
CEO of Paramount Skydance
AMC Theatres
Cinema chain backing the deal
Regal Cinemas
Cinema chain backing the deal

↳ Why This Matters

The statements from California's Attorney General signal a potential shift in the legal battle over Paramount's acquisition, with implications for media consolidation and the future of major entertainment companies.

Key facts

  • California Attorney General Rob Bonta indicated Paramount is 'eager' for a settlement in the antitrust case.
  • Bonta refuted claims that his actions are motivated by a desire to block David Ellison's acquisition of CNN.
  • Bonta expressed strong confidence in the legal team's performance in the ongoing antitrust litigation.
  • Bonta characterized David Ellison's threat to relocate Paramount out of California as an attempt at blackmail.
  • Bonta stated he is monitoring developments regarding the deal's backing by major cinema chain CEOs.

California Attorney General Rob Bonta indicated that Paramount is 'eager' for a settlement in the ongoing antitrust case concerning its acquisition of CNN. Bonta dismissed suggestions from David Ellison, CEO of Paramount Skydance, that his motivation was to block the acquisition, calling such claims "false all day, everyday."

Bonta expressed strong confidence in his legal team's performance, stating, "Literally, in every development in this case, we have won and they have lost." He suggested that settlement talks could be possible if Paramount approached the discussions "in good faith," but emphasized that his current focus remains on litigation and proceeding to trial.

Addressing Ellison's reported threat to relocate the studio out of California, Bonta characterized it as an "attempt to blackmail the regulators" for enforcing the law and standing up for a free and fair market. He stated he did not believe the backing of the deal by the CEOs of AMC Theatres and Regal Cinemas undermines his case, though he acknowledged he is "monitoring developments."

Frequently asked questions

The case concerns Paramount's potential acquisition of CNN and allegations of unlawful market practices.

Bonta believes his legal team has been successful in every development and is confident in their position, while remaining open to good-faith settlement talks.

He dismissed the threats as an attempt to blackmail regulators and stated he is monitoring the situation.

What Happens Next

01Paramount may approach settlement talks in good faith.
02Bonta's legal team will continue litigation efforts.
03Developments regarding the deal's backing by cinema chains will be monitored.

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Cadence

How It Developed

California Attorney General Rob Bonta stated Paramount is eager for a settlement.
Bonta dismissed David Ellison's suggestion that he is motivated to block the acquisition of CNN as false.
Bonta expressed confidence in his legal team's successes in the antitrust case.
Bonta opened the possibility of settlement talks if Paramount approached in good faith.
Bonta dismissed Ellison's reported threat to relocate the studio out of California as an attempt to blackmail regulators.
Bonta acknowledged monitoring developments regarding the deal being backed by AMC Theatres and Regal Cinemas CEOs.

Sources

T1
Bonta: Paramount ‘eager’ for a settlementPolitico

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