California Attorney General [PERSON_NAME] canceled a scheduled Monday meeting with Paramount representatives to discuss settling the state's lawsuit blocking Paramount's proposed acquisition of Warner Bros. Discovery. In a statement, [PERSON_NAME] accused Paramount of leaking and misrepresenting Friday's settlement discussions, demonstrating a lack of good faith.
A Paramount spokeswoman declined immediate comment. The canceled meeting follows Governor [PERSON_NAME]'s expressed preference for settling the case after Paramount threatened to leave the state. The $111 billion merger would combine major movie studios, streaming services, and news outlets CNN and CBS News, headquartered in [ADDRESS].
Last month, [ADDRESS] led 12 state attorneys general in suing to block the deal, arguing it would create a company with outsize market power in cable television and movie studios. With a March trial scheduled and potential hundreds of millions in fees at stake if the deal closes by October, political pressure has mounted for a resolution. Mayor [PERSON_NAME] of [ADDRESS] reported disputes had stalled productions and led to job losses, calling for a swift resolution.
Democratic gubernatorial candidate [PERSON_NAME] also urged settlement. Governor [PERSON_NAME], facing a potential 2028 presidential run, said he took Paramount's threat to leave seriously, stating, "I want to see [ADDRESS] thrive.".
Source: New York Times Top Stories · Summarized by HeadlinesBriefing