Rob Bonta, Facing Skeptics, Defends ‘Very Strong’ Paramount Deal

Bonta argues that settlement will result in more jobs and is 'the opposite of Disney-Fox'

Rob Bonta defended the antitrust settlement that allows Paramount to merge with Warner Bros. on Monday, saying in a 45-minute press conference that the deal includes independent monitoring and will result in more jobs in Hollywood.

But the deal does not include the three words — robust structural remedies — that California’s attorney general had said was the goal since filing suit in July. And while he went to some lengths to argue that the deal represents a “strong” outcome, he also acknowledged it was not his preferred result.

“I don’t think these two companies should merge,” he said. “But that’s not something that we are focused on with our resolution here.”

Bonta had come under increasing pressure in the last few weeks, as Gov. Gavin Newsom, Xavier Becerra, the cinema trade group, and labor leaders all expressed hope for a settlement. Paramount also did its best to increase the leverage on Bonta, threatening to relocate to Tennessee and seeking a court order to force the 12-state coalition to pay $1.88 billion for delaying the deal.

In the press conference, Bonta sought to downplay that…

Original source: https://variety.com/