The champagne corks may be popping right now at Paramount over the David Ellison-owned company’s successful bid for Warner Bros Discovery, but up in Sacramento the mood is far from celebratory over the latest possible Hollywood mega-merger.
“Paramount/Warner Bros is not a done deal,” California Attorney General Rob Bonta told Deadline this evening after Netflix dropped out of bidding for WB’s studio and streaming assets.
“These two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review,” the Golden State’s top lawman added.
Bonta’s cold water on the Paramount-WBD fireworks comes a week after the CA Department of Justice opened a probe into any deal to take over WB — be it Netflix or Ellison’s team. A probe that could see legal action if the deal doesn’t pass muster.
“The film and entertainment industry not only has historical importance to our state, it also is a critical sector that buoys the state’s economy of California and touches the lives of Americans daily,” the ambitious AG said on February 20. “The proposed Warner Brothers transactions must receive a full and robust review, and California is taking a very close look.”
California Attorney General Rob Bonta (Photo:Getty)
Bonta’s words echo those of fellow Democrat and California’s junior Senator Adam Schiff from earlier today after Donald Trump’s “good friend” Ellison seemingly snagged his second legacy studio in less than two years.
“What was true for Netflix is still true now for Paramount,” Sen. Schiff said Thursday “The merger of two of Hollywood’s biggest studios must be subject to the highest levels of scrutiny, free from White House political influence, to determine its impact on American jobs, freedom of speech, and the future of one of our nation’s greatest exports.”
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