Rob Bonta defends Paramount's $111 billion Warner Bros. Discovery purchase
California Attorney General Rob Bonta is standing by the antitrust settlement that lets Paramount buy Warner Bros. Discovery for $111 billion.
The deal, still waiting on a judge's approval, was designed to settle a lawsuit from 12 states worried about competition.
Bonta made it clear this was all about antitrust concerns, not because Paramount might leave Hollywood.
Settlement creates CNN and CBS board
One big part of the agreement: an editorial board will help keep CNN and CBS News independent, with no state or government meddling in their newsrooms.
Experienced journalists will lead the way, and there's even an auditor to make sure everyone sticks to the plan.
If anything goes off track, states can take it back to court.
William Tong says settlement lacks divestiture
Still, some critics, like Connecticut Attorney General William Tong, think the deal doesn't go far enough since it doesn't require selling off CNN or CBS News entirely.
They worry about more media power in fewer hands and possible job losses.
Even so, Bonta says this settlement strikes a balance between tackling antitrust worries and protecting independent journalism.