00:00It's Benzinga, bringing Wall Street to Main Street.
00:03California Attorney General Rob Bonta canceled settlement talks with Paramount
00:06over its planned $110 billion takeover of Warner Brothers Discovery,
00:11according to a report from the New York Times.
00:14Bonta said Paramount leaked and misrepresented discussions from a previous meeting
00:18between the two sides, according to CNN.
00:22Paramount is seeking to merge its film and television operations with Warner Brothers
00:26Discovery, but 12 Democratic state attorneys general are suing to block the deal over
00:32antitrust concerns.
00:33Paramount must pay Warner Brothers Discovery shareholders about $7 million for each day
00:38after September 30th that the deal remains unfinished, according to CNN.
00:44CNN contacted Paramount and Bonta's office for comment.
00:47Bonta has said any settlement would require robust structural remedies,
00:51such as divestitures or spinoffs.
00:53An antitrust trial is scheduled for March.
00:56For all things money, visit Benzinga.com.
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