California Signals Legal Challenge to Paramount-Warner Merger

California Attorney General Rob Bonta says the Paramount-Warner Bros. merger isn’t a done deal and that the California DOJ is conducting a thorough review with the potential to challenge the deal if regulators approve. The state could lead any lawsuits, even as Netflix’s bidding shift leaves Paramount in a stronger position; a California consumer lawsuit to block the deal exists but is seen as unlikely to succeed.