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00:02California Attorney General Rob Bonta cancelled settlement talks with Paramount Skydance over the state's lawsuit,
00:08seeking to block its proposed $110 billion acquisition of Warner Brothers Discovery.
00:14According to Reuters, Bonta accused Paramount of leaking and misrepresenting details from a Friday meeting.
00:19Bonta accused Paramount of leaking and misrepresenting settlement discussions,
00:23while Paramount denied responsibility and said it shared concerns about public reporting surrounding the deal.
00:28Paramount denied being the source of settlement leaks and said it remains ready to continue good-faith talks to resolve
00:35the lawsuit.
00:36California and 11 other states sued in July,
00:39arguing the deal would create a media giant with the power to raise film and television prices.
00:46Bonta has said structural remedies are preferable to behavioral commitments.
00:50The Wall Street Journal reported that he may seek cable channel divestitures
00:54and require Paramount to keep its movie studio separate from Warner Brothers.
00:59For all things money, visit Benzinga.com.
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