Walters, Director For Further Information: Media Inquiries-Allison InserroOAGpress@njoag.gov  View Complaint TRENTON – Attorney General Jennifer Davenport today joined a coalition of 12 attorneys general in filing a lawsuit challenging the $110 billion acquisition of Warner Bros. (Warner Bros.) by Paramount Skydance Corporation (Paramount). The proposed merger would combine two of Hollywood’s five major film distributors and two of the five major basic cable companies, extinguishing competition between Paramount and Warner Bros.

and inflicting substantial harm on movie theaters, basic cable distributors, and, ultimately, consumers nationwide. In the United States alone, if allowed to merge, the combined titan would control roughly one-third of theatrical motion pictures and nearly one-third of basic cable programming. The coalition has asked Warner Bros.

and Paramount not to close the merger until after the judicial process concludes–and if the companies do not agree, the coalition will be filing an application for a temporary restraining order to prevent the merger from closing while the case proceeds in court. “New Jersey is the birthplace of the American film industry, and the state is now a burgeoning hub for film and television production. Given our state’s leadership in the film and television industry, we must protect our residents when corporate media monopolies threaten to upend the industry by raising prices and reducing content choices,” said Attorney General Jennifer Davenport.

“The proposed merger between Paramount and Warner Bros. Discovery will hurt our state’s residents, plain and simple. We will always stand up against corporate monopolists that seek to exploit hardworking New Jerseyans by driving up prices and turning a massive profit at their expense.” For more than a century, Warner Bros.

and Paramount have stood as independent sources of creativity and competition in the film and television industry. District for the Northen District of California, alleges that the merger violates Section 7 of the Clayton Act, which holds that mergers that may substantially lessen competition or tend to create a monopoly are illegal. The attorneys general allege that if Warner Bros.

Source: NJ Attorney General. Jersey Alerts is publishing this official public-safety update for awareness. Details may change as the agency updates its release.

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