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Paramount pushed backmost connected an antitrust suit seeking to sideline its projected acquisition of Warner Bros. Discovery, deeming nan title “long connected rhetoric and fearmongering” but falling short of stating a viable declare that nan woody harms competition.
“Antitrust merger litigation is not a sport; it is simply a superior matter that consumes nan resources of nan parties and nan Court. Because this Complaint falls good short of nan required pleading standards, it should beryllium dismissed pinch prejudice,” Paramount’s ineligible team, led by Jeffrey Kessler, wrote successful a mobility to disregard revenge successful U.S. District Court successful Oakland connected Thursday.
In April, 5 pay-TV and streaming services subscribers filed a suit challenging nan merger, claiming, among different things, that nan acquisition would summation prices and diminish nan diverseness of viewpoints.
In its filing, Paramount’s ineligible squad based on that nan plaintiffs — Pamela Faust, Len Marazzo, Lisa McCarthy, Deborah Rubinsohn and Gary Talewsky — do not person standing.
“Their allegations of wounded dwell almost wholly of speculative, barebones assertions pinch nary actual support,” Paramount’s lawyers based on successful nan filing. “Their sole allegation of purported actual wounded (a azygous value summation connected Paramount’s streaming service, Paramount+) lacks actual allegations suggesting immoderate causal relationship betwixt this value summation and nan Skydance-Paramount merger.”
The institution besides contended that “their allegation that nan mergers will deprive them of a ‘diversity’ of governmental ‘viewpoints’ successful nan news media are neither factually plausible nor nan type of economical harm that tin support an antitrust claim.”
Paramount’s lawyers besides claimed that nan plaintiffs grounded to authorities a plausible declare of competitory harm from nan merger.
“Plaintiffs’ 3 alleged markets sprawl crossed film, television, and news media, but nary of them are plausible aliases accordant pinch governing ineligible and economical principles,” nan company’s ineligible squad stated.
In a abstracted filing opposing nan plaintiffs’ mobility for a preliminary injunction, Paramount’s ineligible squad called nan suit a “misguided effort to politicize antitrust law.” They besides made nan lawsuit for nan merger itself.
“To compete astir efficaciously against starring streaming platforms for illustration Netflix and Disney+, nan merging parties require greater standard and finance successful high-quality, compelling contented that will thrust moviegoers to theaters and pull viewers to cablegram tv and streaming services,” nan filing stated.
An lawyer for nan plaintiffs did not instantly return a petition for comment.
The projected merger is being reviewed by nan Justice Department and European regulators, while California Attorney General Rob Bonta has said that his squad is scrutinizing nan transaction.
