States are suing to stop Paramount from eating Warner Bros
Just when Hollywood thought it couldn't get any more consolidated, California and a bunch of states stepped in to block the ultimate mega-studio merger.
Paramount wanted to buy Warner Bros. Discovery and combine half of Hollywood's iconic movie studios and TV newsrooms under one giant roof.
State prosecutors took one look at that plan and immediately ran to court. California and several other states are suing to block the deal, arguing that letting two massive media empires merge will crush competition and leave audiences with even fewer choices.
If this deal actually goes through, a single board of directors would control everything from major news networks to half the superhero movies in existence.
Antitrust regulators usually take forever to wake up, but even they drew the line at letting one company own almost the entire entertainment landscape.
Consolidation is great for shareholder decks, but bad news for anyone who likes having more than three media companies to choose from.
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