California AG Rob Bonta on Paramount’s Merger Settlement

California Attorney General Rob Bonta discussed the settlement of an antitrust challenge related to Paramount’s $111 billion merger with Warner Bros. Discovery. Bonta addressed concerns and clarified the motivations behind the settlement during an interview on Morning Edition.

Bonta stated that the potential for Paramount moving operations out of California did not influence the timing of the settlement. Instead, his focus remained on antitrust issues associated with the merger. He emphasized the agreement was not a statement of support for the merger, but rather the “best course of action.” This settlement requires approval from a judge.

The settlement involves creating an editorial board aimed at protecting the independence of CNN and CBS News. Bonta clarified that the state of California and other government entities would not influence the board’s composition. Instead, it will feature experienced journalists committed to maintaining objectivity and fairness.

Bonta noted that standards for selecting board members were negotiated to ensure the board’s independence. An auditor will monitor compliance, and states may return to court if Paramount does not adhere to the consent decree.

Critics of the settlement remain. Connecticut Attorney General William Tong expressed disappointment, stating his preference for full divestiture of CNN and CBS News. Others argue that the settlement inadequately addresses concerns about media consolidation and job losses.

The digital story’s editing was managed by Suzanne Nuyen, with input from David Folkenflik.