Why Bonta caved: Paramount’s Warner deal settlement, explained

TheWrap’s Sharon Waxman reports that California AG Rob Bonta settled his lawsuit against Paramount Skydance’s $110 billion Warner Bros. Discovery deal without securing structural changes, after Paramount threatened to relocate and state leaders pushed for a deal.

Why it matters. State regulators lose leverage over future media mergers once a company credibly threatens to relocate its headquarters and jobs.

Signal from thewrap.com · Sharon Waxman · read the original.

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