By A small handful of consumers have filed a lawsuit against Paramount Skydance seeking to block its acquisition of Warner Bros. Discovery.
The lawsuit, filed Thursday in U.S. District Court in the Northern District of California, alleges the Paramount-Warner deal will lead to increased prices, fewer consumer choices and reduce production of film and TV (ie. less marketplace competition).
The suit also alleges the merger, finalised last year, has led to higher prices for the Paramount+ streaming service.
The plaintiffs are reportedly either existing Paramount+ subscribers, cable customers who access Paramount-owned TV channels, or filmgoers who watch films in cinemas.
A company spokesperson says Paramount is aware of the lawsuit and is “confident that it is without merit”. The Paramount-Warner deal is currently undergoing regulatory approvals.
On Friday, Democratic rep Sam Liccardo urged the FCC to deny Paramount’s petition on the foreign ownership aspect of the deal.
Paramount still expects to close the deal sometime in the third quarter.
Source: The L.A. Times
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