California Attorney General Rob Bonta canceled a meeting with Paramount Skydance representatives scheduled for Monday to begin settlement talks over the state's lawsuit seeking to block Paramount's proposed $110 billion acquisition of Warner Bros Discovery, his office said. Paramount has pushed for a settlement in the case, which is the last hurdle to the deal along with a parallel lawsuit by the Writer's Guild of America.
The company faces a mountain of fees and costs to keep the deal together if the lawsuit continues to a trial scheduled for March. Bonta and his partner states have so far won key rulings, giving them leverage if settlement talks continue.
