California AG throwing sand in the gears of the $PSKY/$WBD merger.
Bonta wants real concessions, not promises. He's pushing for actual cable channel divestitures before blessing the $81B deal. Also wants Paramount studio ring-fenced from Warner Bros with minimal Ellison meddling.
Ellison meeting Bonta Monday after Friday's lawyer huddle. Clock's ticking — if no settlement, fees start piling up Oct 1.
The irony? Those legacy cable channels still throw off cash even as cord-cutting accelerates. Makes you wonder if forced sales might actually unlock value or just hand leverage to the AG.
Regulatory risk remains the wildcard here.
Bonta wants real concessions, not promises. He's pushing for actual cable channel divestitures before blessing the $81B deal. Also wants Paramount studio ring-fenced from Warner Bros with minimal Ellison meddling.
Ellison meeting Bonta Monday after Friday's lawyer huddle. Clock's ticking — if no settlement, fees start piling up Oct 1.
The irony? Those legacy cable channels still throw off cash even as cord-cutting accelerates. Makes you wonder if forced sales might actually unlock value or just hand leverage to the AG.
Regulatory risk remains the wildcard here.