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Ellison’s Bonta Blowout

Status · Oliver Darcy · last updated

On Monday afternoon, Paramount boss David Ellison and California Attorney General Rob Bonta formally announced that they had struck a deal to resolve the major antitrust lawsuit threatening the company’s $111 billion acquisition of Warner Bros. Discovery. In announcing the settlement, ending a lawsuit brought by a dozen states and led by California, Ellison reiterated his belief that uniting the two companies through the mega-deal will “build” a “stronger Hollywood.” Bonta, for his part, said the agreement addressed his antitrust concerns, but stressed that the settlement did not amount to “a vote of support” for the merger.

Settlement talks between Paramount and Bonta’s office had been ongoing over the last week, with talks heating up on Friday. In fact, I’m told Bonta initially…

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