California AG Expected to Seek Structural Concessions for Paramount-Warner Merger
Most approvals are in place for Paramount’s Warner Bros. acquisition, but California poses the main hurdle. California Attorney General Rob Bonta is expected to demand structural concessions before settling the state lawsuit over the $81B deal, including divestiture of some cable assets and limits on Paramount’s control of the movie studio. Investors are cautious about deal debt and possible divestitures.