Paramount Defends $111 Billion Warner Deal as Antitrust and Political Criticism Mounts
Updated
Updated · Los Angeles Times · Jun 2
Paramount Defends $111 Billion Warner Deal as Antitrust and Political Criticism Mounts
3 articles · Updated · Los Angeles Times · Jun 2
Makan Delrahim said Paramount is still seeking approvals in the U.S., Europe, Canada and the U.K. for its $111 billion bid for Warner Bros. Discovery, rejecting claims the company has any deal with President Trump.
Delrahim argued the merger is "pro-competitive," saying it would increase output, create jobs and lower consumer costs, while contending combined Paramount-Warner would still rank fourth in streaming at roughly half Netflix's size.
CBS News and CNN overlap concerns do not justify remedies such as a CNN spin-off, he said, adding Paramount is preparing for challenges from California Attorney General Rob Bonta and other regulators anyway.
More than 5,000 artists and entertainment workers have urged Bonta to block the deal, reflecting broader Hollywood anxiety over layoffs, media consolidation and the combined company's $79 billion debt load.
Delrahim cast much of the opposition as fear-mongering and partisan politics, after earlier alleging some critics of the merger were motivated by antisemitic views.