Oregon drops lawsuit to halt Paramount-Warner Bros. agreement
The Oregon attorney general’s office stated on Friday, it withdrew its court motion aimed at delaying Paramount’s proposed $110 billion acquisition of Warner Bros. “Paramount made it clear that they weren’t going to comply with the investigative demand, and that they think they’re above the law. We’re not going to let them waste Oregonians’ resources on these games,” Oregon Department of Justice said in a statement. “We’ve withdrawn the motion to consider our next steps,” the statement added.
Earlier this week, the office of Oregon Attorney General Dan Rayfield requested that a court in Multnomah County compel the company to provide records and postpone the deal by 60 days to allow for a thorough state review. It was noted that Paramount has consented to refrain from finalising the transaction prior to July 22 during the state’s examination. Oregon is pursuing documents related to “Project Warrior,” the internal code name used by Paramount for its initiatives aimed at securing regulatory approval.
The state is also requesting records pertaining to the company’s initiatives to lobby the Trump administration for backing of the merger. “We are pleased that the Oregon Attorney General has withdrawn its motion to delay this transaction,” a Paramount spokesperson said in a statement to Reuters, calling the merger “lawful” and “pro-competitive.”
The deal, which would combine two of Hollywood’s four major studios, has attracted criticism from actors, writers, and others in the industry who express concerns over potential job losses. It also faces scrutiny from other US states, which may initiate legal action to obstruct the acquisition as soon as next week due to competition concerns, according to reports.
