CFJ Webinar: The Paramount Merger Litigation: Can State AGs Stop the Deal?

After an extensive investigation, the Department of Justice closed its review of Paramount's proposed acquisition of Warner Bros. Discovery without challenging the transaction, concluding that it was unlikely to harm competition or American consumers. One month later, a coalition of twelve state attorneys general led by California Attorney General Rob Bonta sued to block the deal. A twelve-day trial is now scheduled to begin in March 2027.

The litigation presents questions extending well beyond Hollywood. What evidence should states be required to produce when defining novel markets such as “anticipated top-grossing theatrical films”? How should the court evaluate those claims against declining theatrical demand and the companies’ commitments to increase film production and preserve theatrical releases? And when federal review and international regulatory scrutiny have already occurred, do overlapping state challenges provide an important additional safeguard—or create a de facto state veto over national transactions?

Join the Committee for Justice for a virtual panel discussion of the competing antitrust theories, the expanding role of state attorneys general in merger enforcement, and what the Paramount–Warner Bros. litigation could mean for investment, employment, and the future of mergers and acquisitions.

Featuring:

• Asheesh Agarwal, Agarwal Strategies, LLC

• Eric Fruits, Director of Economic Research, International Center for Law & Economics

• Michael Toth, Director of Research, Civitas Institute|The University of Texas at Austin

• Moderator: Ashley Baker, Executive Director, The Committee for Justice

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