Paramount and States Defend Antitrust Settlement From Sen. Booker’s Criticisms
Paramount and a coalition of 12 state attorneys general have defended their antitrust settlement against criticisms levelled by New Jersey Senator Cory Booker. The settlement pertains to Paramount's proposed merger with Warner Bros. Discovery, with the primary concern being a potential reduction in theatrical releases following the combination. The parties argue the deal vigorously protects competition and should not be subjected to an independent public interest review, though Judge Araceli Martinez-Olguin has yet to approve the consent decree.
Senator Booker raised several objections, most notably that the five-year term leaves no protections thereafter and that the editorial independence board overseeing CNN and CBS News has limited independence since Paramount appoints its members. Paramount and the states counter that the five-year term represents a reasonable balance given the rapidly changing entertainment industry, and that the board protects editorial independence without raising First Amendment concerns. The court has also received objections from various coalitions opposing the merger, with the judge to issue a ruling in due course.
- Paramount-Warner Bros. merger settlement defended against Booker's antitrust concerns
- Five-year protection term insufficient; editorial board independence questioned
- Judge Martinez-Olguin yet to approve consent decree settlement