8legs: Paramount skydance corp.

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California and other states may sue to block Paramount-Warner Bros. deal

California and other states may file a lawsuit to block Paramount Skydance's planned Warner Bros. Discovery takeover on antitrust grounds.
The filing could argue the merger would reduce competition, lower wages, and cause job losses nationwide.
Paramount defends the deal, saying it benefits consumers, creators, and the industry as a whole.
Warner Bros. Discovery shareholders approved the sale to Paramount, with a $31-per-share offer under the Ellison proposal.
Analysts say the deal still seems likely to close despite potential legal hurdles.
The merger would add about 30 films a year and carry substantial debt, raising concerns among critics.
Open letters from industry figures warn the merger could reduce production jobs and consumer choices.
State attorneys general may coordinate actions; California expects a vigorous review of the deal.
The deal remains under regulatory scrutiny from U.S. and international authorities.
Paramount has hired antitrust attorney Jeffrey Kessler to defend the acquisition.

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