Paramount and a coalition of 12 state attorneys general defended their antitrust settlement on Monday from a series of criticisms raised last week by New Jersey Sen. Cory Booker.
\n\nIn separate filings, the two sides argued that the deal was vigorously negotiated, has “teeth,” and should not be subjected to an independent “public interest” review. Paramount argued that the deal resolves the state’s primary concern of a reduction in theatrical releases after it merges with Warner Bros. Discovery.
\n\n“The proposed consent decree eliminates that risk of post-merger output reductions,” Paramount’s lawyers wrote, adding that the deal “provides certainty for exhibitors and the broader industry: a guaranteed, enforceable pipeline of new releases every year.”
\n\nBooker wrote to object to the deal last Thursday, arguing that the terms do not go far enough to remedy the anticompetitive harms from the merger. Among other concerns, Booker noted that the consent decree expires after only five years, leaving no protections whatsoever in year six.
\n\nParamount argued that the five-year term was a reasonable outcome, given the fast-changing nature of the film and TV business.
\n\n“None of the parties know what consumer demand will look like six years from now or how competition will change…
Original source: https://variety.com/v/tv/
