Paramount Skydance issued a statement Monday denying responsibility for leaking confidential settlement discussions to the media, following California Attorney General Rob Bonta’s decision to cancel a scheduled meeting between the two parties. The company stated it shares the attorney general’s concerns about public disclosures and inaccurate reporting surrounding the proposed merger with Warner Bros. Discovery, while asserting it was not the source of the leaked information.
Bonta had accused Paramount of both leaking settlement discussions and misrepresenting their content, citing a lack of good faith in negotiations. A Wall Street Journal report published Sunday had detailed alleged conditions the attorney general might seek, including the divestment of certain cable channels and separation of Paramount’s film studio from Warner Bros. The cancellation came ahead of a planned Monday meeting designed to discuss potential resolution of a 12-state antitrust lawsuit challenging the merger.
Paramount expressed hope for continued negotiations and readiness to engage in earnest discussions to resolve the legal challenge and advance their merger plans. The company emphasized the potential benefits for entertainment industry talent and workers. The standoff carries significant financial implications for Paramount, which faces a $7 million daily fee starting October 1 if the merger remains unresolved, and internally has indicated plans to potentially relocate operations out of California if the deal is not finalized by September 30.
Originally reported by Variety →
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