The lawsuit discusses Paramount’s probable takeover of CNN as something that a judge needs to step in and stop. “By placing CNN and other news assets under Paramount’s control as part of a broader consolidation strategy, Paramount’s proposed acquisition of Warner Bros. Discovery would reduce the number of independent owners capable of sustaining national television news operations at scale and weaken competitive constraints that protect editorial rivalry, investigative resources, and viewpoint diversity,” continues the suit. Citing the well-documented story of Paramount flagrantly shifting CBS News into a far more right-leaning outlet, the suit argues that the merger would “constrain editorial independence and lessen non-price competition in the National TV News Market by placing CNN and CBS News under common ownership and subjecting them to heightened political pressures, leaving the public with fewer viable, independent news options.”
Elsewhere, the suit states that Paramount’s ownership of Warner Bros. Discovery would give it 23.6% of the market share in motion picture studios in the United States and Canada, surpassing the shares of Disney, Universal, and Sony, while also placing 76.3% of the entire market share in the hands of those four companies. This would also leave consumers with less choice at theaters.
Paramount, of course, is undeterred by this action. “The combination of Paramount and WBD will create a stronger competitor that is well positioned to serve as a champion for creative talent and consumer choice,” it maintains in a statement to Deadline. The company, its shareholders, and the Trump administration are about the only ones who feel that way. Though the merger was approved by shareholders last week, plenty of industry workers have spoken out against it, and attorneys general of states like California and New York have been talking about filing an antitrust lawsuit of their own. The clock is ticking, guys!
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