California Attorney General Rob Bonta has canceled a scheduled meeting with Paramount over its proposed $110 billion acquisition of Warner Bros. Discovery, according to The New York Times as reported by CNN.
The meeting was intended to explore a possible settlement in California’s lawsuit seeking to stop the merger. Bonta accused Paramount of leaking and misrepresenting details from earlier discussions, saying the company had failed to negotiate in good faith.
California is among 12 Democratic state attorneys general challenging the transaction on antitrust grounds. Bonta has said any settlement would require major structural changes, potentially including asset sales or spin-offs.
The companies remain far apart, while an antitrust trial is scheduled for March. The report noted that Paramount could face payments of roughly $7 million per day to WBD shareholders if the transaction remains incomplete after September 30.
Related Tweet:
Breaking News: California called off talks with Paramount to discuss a settlement in the state’s lawsuit to block the company’s bid for Warner Bros. Discovery.https://t.co/pzfKf50YKK
— The New York Times (@nytimes) August 24, 2026
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