Today Judge Araceli Martinez-Olguin’s passed on the ruling that would put hold on the merger for Paramount and Warner Bros./Discovery for two weeks. The lawsuit was issued by California Attorney Rob Bonta and a coalition of 12 Attorney Generals to put a hold to the merger “which is expected to result in higher prices, lower content quality, and fewer movies and TV shows,” according to Bonta’s press release.
In the same vein, Bonta continued on discussing the pushback against the merger.
“My office and attorneys general nationwide have secured an emergency order blocking the unlawful merger of Warner Bros. and Paramount. This is a critical first win in our case to ensure this mega merger never sees the light of day.”
The lawsuit uses section 7 of the Clayton Act as it’s argument, which reads, “…prohibits mergers and acquisitions where in any line of commerce or in any activity affecting commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly.”
“History tells the tale of what happens when a few people have great power over markets that are central to Americans’ lives: fewer opportunities for more people, worse products and services for all people. With our lawsuit, we’re fighting for a free and fair market and a thriving film and television industry that serves creatives and audiences alike. We have a full tank of gas, the law on our side, and look forward to continuing to make our case.”
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