The California attorney general’s office fired back against Paramount’s request for a $1.88 billion bond on Monday, saying the company is seeking a “do-over” on its agreement to delay the Warner Bros. merger until an antitrust trial next March.
\n\nIn a statement, the A.G.’s office argued that Paramount is a “sophisticated” company that knew it would face regulatory review when it agreed to pay Warner Bros. shareholders a $7 million-per-day ticking fee, and that California should not be made to bear the burden of that decision.
\n\n“Bottom line: Paramount went into this process with eyes wide open,” the office said. “They are lying in a bed of their own making, and once again, trying to blackmail us to get us to back down.”
\n\nCalifornia Attorney General Rob Bonta is leading a 12-state coalition to block the merger on the grounds that it will reduce competition in the theatrical and basic cable markets. Last month, Paramount agreed to hold off on closing the deal until after the case is resolved at trial, or until next June, whichever comes first.
\n\nBut Paramount was hoping for an earlier trial date — ideally in November. In a motion filed on Monday, the company argued…
Original source: https://variety.com/v/tv/