California Attorney General Rob Bonta addressed the settlement involving Paramount’s $111 billion merger with Warner Bros. Discovery. He stated that the settlement was focused on antitrust issues, without influence from the possibility of Paramount moving operations out of California.
Bonta clarified on NPR’s Morning Edition that the decision was not swayed by relocation threats. He emphasized that the agreement was not an endorsement of the merger, but the optimal solution given the circumstances. The settlement still requires a judge’s approval and aims to resolve a lawsuit filed by 12 states to block the merger.
A notable provision in the agreement establishes an editorial board to maintain the independence of CNN and CBS News. Bonta stated, “The state of California will have no input in it. No government entity will have any input into it. It will consist of seasoned, experienced, hopefully trusted journalists who know the craft and understand the need for independence, objectivity, and fairness.”
The settlement outlines standards for appointing board members, aiming for independence. An auditor is tasked with ensuring compliance, allowing states to return to court if Paramount violates the consent decree.
Criticism remains about the settlement. Connecticut Attorney General William Tong expressed disappointment, stating that his state advocated for the full divestiture of CNN and CBS News. Some critics argue the agreement insufficiently addresses media consolidation, potential job losses, and whether the new editorial safeguards will be effective.
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