A court will hold a two-day settlement conference in the Paramount-Warner Bros. antitrust case in late October.
\n\nThe conference is a standard part of civil procedure and does not indicate whether a deal is in the offing. A magistrate judge, Thomas Hixson, has been tasked with overseeing the settlement discussions and to determine whether it will be possible to avoid a trial, which is scheduled for next March in Oakland.
\n\nParamount has been pushing for a deal with California Attorney General Rob Bonta, and has been hoping to get it done before Oct. 1. That’s the date that it will begin paying a $7 million daily “ticking fee” to Warner Bros. shareholders.
\n\nBonta, in turn, has said he is open to a settlement but only if it includes “robust structural remedies” — that is, presumably, spinning off a significant chunk of the combined assets.
\n\nCalifornia and 11 other states allege that the $111 billion merger will illegally reduce competition in the theatrical and basic cable markets, and Bonta has been looking for terms that would address concerns in both markets.
\n\nBonta’s office was set to have settlement discussions with Paramount on Aug. 24, but Bonta canceled the talks the night…
Original source: https://variety.com/