California AG says Paramount's Netflix defense misses the point
California Attorney General Rob Bonta is suing to block the Paramount-Warner Bros. Discovery merger, arguing it creates anti-competitive market concentration. Paramount's defense, which cites the need to compete with streaming giants like Netflix, has been dismissed by Bonta as irrelevant to the antitrust case.
Why it matters
The case highlights the tension between traditional media consolidation and the regulatory scrutiny of market power in the streaming era.
Rob Bonta is leading California and 11 other states in a lawsuit against David Ellison's Paramount Skydance. Sarah Reingewirtz/MediaNews Group/Los Angeles Daily News via Getty Images; Patrick T. Fallon/AFP via Getty Images California Attorney General Rob Bonta is suing Paramount to block its acquisition of WBD. He says the rise of Netflix and other streaming services doesn't matter to his antitrust case. His suit focuses on market concentration in three areas, including blockbuster films and cable TV. Rob Bonta, California's attorney general, says it's not his job to protect Hollywood giants from the rise of Netflix and other streaming insurgents. This week, Bonta and 11 other attorneys general sued Paramount Skydance to stop its deal to buy Warner Bros. Discovery . Paramount says it needs the deal to compete with tech giants in streaming and transition to a new media model.
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