1 month ago
New York Mayor Zohran Mamdani added his sound to nan chorus of governmental figures connected nan near opposing Paramount‘s projected acquisition of Warner Bros. Discovery.
Ahead of a cardinal WBD shareholder ballot connected Thursday, Mamdani wrote connected X, “This merger is bad for New Yorkers 3 times over. Thousands of jobs astatine consequence present successful nan city. Streaming bills going up arsenic title disappears. And 2 of America’s astir powerful media companies nether 1 roof, deciding what you watch and what you hear. Today, arsenic Warner Bros. and Paramount shareholders vote, New York City is connected record: this merger should beryllium stopped.”
Paramount has not yet commented connected Mamdani’s statement. Its CEO David Ellison has defended nan transaction arsenic boosting characteristic movie productions, pinch plans to merchandise 30 films per twelvemonth by nan mixed studios. He besides has committed to a 45-day theatrical window, amid concerns that nan merger will spell a further diminution of nan exhibitor business.
The determination connected whether to greenlight nan transaction does not dishonesty pinch mayors aliases moreover members of Congress, but nan Justice Department and world regulators, arsenic good arsenic authorities attorneys general.
Opponents of nan merger person held property calls and plan a objection on Thursday astatine WBD headquarters, tied to nan shareholder vote, while they person group their sights connected nan anticipation of authorities attorneys wide filing suit to artifact nan transaction.
More to come.
