Yesterday, Attorney General Phil Weiser joined a coalition of 12 attorneys general in filing a lawsuit challenging the $110 billion acquisition of Warner Bros. Discovery, Inc. by Paramount Skydance Corporation. The proposed merger would combine two of Hollywood’s five major film distributors and two of the five major basic cable companies.
“More concentration in motion picture production and in the cable network sectors threatens harm to consumers and to a robust marketplace of ideas,” said Attorney General Weiser. “As Colorado welcomes the Sundance Film Festival next year, we are acutely aware that preserving competition in the motion picture industry will help ensure the distribution of a wide variety of the best films to movie theatres. And as reflected by our challenge to the Nexstar/Tegna merger, we are also committed to ensuring that cable and satellite platforms can offer consumers the best possible packages of basic service by preserving competition in the basic cable TV environment.”
Read about the litigation here.