merger

Paramount Skydance will meet with California Atty. Gen. Rob Bonta’s representatives next month for court-ordered settlement talks that could clear a path for David Ellison’s $111-billion takeover of Warner Bros. Discovery.

The two sides will convene for two days, Oct. 14 and Oct. 15, according to court documents filed this week.

The talks come as both sides look for ways to resolve the pitched battle over Hollywood’s industry-reshaping deal, which would put HBO, CBS, CNN, TBS, Food Network, Comedy Central and the Paramount and Warner Bros. studios under one roof. Bonta and 11 other Democratic state attorneys general sued in July to block it, and Ellison’s team has been stoking political pressure on Bonta to retreat.

Bonta canceled preliminary last month after details of a session on ground rules leaked, accusing Paramount of “playing games” by violating a confidentiality agreement and spreading misinformation.

Bonta’s Paramount case appears to have ruffled the Trump administration. He sued one month after the U.S. Justice Department blessed the merger without demanding concessions — a decision he said showed federal officials were not doing their jobs to enforce antitrust law. This week the department weighed in on Paramount’s side.

“The United States enforces the federal antitrust laws and has a strong interest in their correct application,” the Justice Department said in a Tuesday filing, describing its unique position to bring antitrust actions. Its “statement of interest” argued that the plaintiffs had sued as “private persons,” who must clear higher hurdles than the federal government.

The department also asked the judge to force California, the other states and the Writers Guild of America to post a $1.88-billion bond, covering fees Paramount would owe Warner Bros. Discovery shareholders if the deal isn’t finalized by Oct. 1. Paramount agreed to the so-called ticking fees earlier this year, confident the deal would sail through regulatory review. Bonta’s office said Wednesday it stands by its earlier filings arguing it should not have to post the bond. A hearing is set for Sept. 24.

Paramount’s chief legal officer, Makan Delrahim, has been quarterbacking the campaign for Warner Bros. Discovery. He served as Trump’s antitrust chief in his first administration, when he led an unsuccessful effort to block AT&T’s takeover of the company, then known as Time Warner Inc. That 2018 deal was the first of two acquisitions that saddled Warner Bros. with instability, strategic misfires and a mountain of debt, paving the way for the Paramount bid — which would mark the third time in a decade the storied studio has changed hands.

Trump has been eager for Ellison to shake up CNN, a Warner property, following his reboot of CBS News, which has coincided with diminished ratings at “60 Minutes”.

Ellison’s company has won approvals from more than 65 international regulators, and Paramount expects the Trump-appointed Federal Communications Commission leadership to sign off on a foreign ownership arrangement that would give Middle Eastern royal families a nearly 50% equity stake in the merged company. Bonta’s lawsuit is the remaining obstacle to closing.

Fox Corp.’s $22-billion acquisition of San José-based Roku, operator of streaming services and seller of hardware devices, seemed like a straightforward deal when it was announced in June: A growing media company was looking to bolster its presence in the fast-growing streaming industry.

But, on Wednesday, the Trump administration weighed in.

Fox Corp. and Roku said that the companies received requests from the Justice Department on Tuesday for additional information in connection with its review of the merger.

While Fox and Roku downplayed the requests, saying that they had expected the outreach, the timing of the move raised eyebrows among some analysts, who said it could signal further scrutiny of the transaction by the Justice Department.

“The president has been outspoken on the fact that he will take retaliatory action against networks that say things that he doesn’t agree with, or they do things that he doesn’t agree with,” said Rob Enderle, principal analyst at advisory services firm Enderle Group.

The action follows President Trump’s surprise over Fox’s ouster of anchor Maria Bartiromo. She was pushed out after she had shared internal company texts with the White House, which sources told The Times may have been the breaking point.

Trump said on social media that he couldn’t believe that Bartiromo will no longer have her shows on Fox. “Her fans, of which there are many, will not be happy,” he wrote on Truth Social on Sept. 3.

Associate Atty. Gen. Stanley Woodward said the Justice Department could not comment on pending matters but said in a statement: “We can affirm that this DOJ under President Trump’s leadership will continue to prioritize affordability for all Americans across our economy.”

Fox announced in June its plans to acquire Roku for $22 billion, which would give the company access to Roku’s 100 million households that use its platform to connect to different streaming services. The deal would benefit Fox’s advertising business, as well as make it less reliant on traditional pay TV platforms.

Fox and Roku said they expect the merger to be done by the first half of 2027, subject to regulatory and shareholder approval, according to a Sept 9 filings with the U.S. Securities and Exchange Commission.

“FOX and Roku will continue to work cooperatively with the DOJ in its review of the Mergers,” Fox said in its filing.

Some legal experts said it is fairly standard for the Justice Department to make an additional request for information.

“It doesn’t mean that their review is going to be more extensive than usual,” said Ray Seilie, an entertainment attorney at law firm Kinsella Holley Iser Kump Steinsapir.

For example, the Justice Department made a second request for information when it reviewed Paramount Skydance’s deal to buy Warner Bros. Discovery, he said. The merging companies typically send information that helps the government figure out what the market impact will be of a merger, he added.

The Justice Department ultimately approved Paramount’s planned acquisition, despite opposition from some industry stakeholders. State attorneys general and the Writers Guild of America have sued Paramount over the deal, raising antitrust concerns. Others have pointed out close ties between Trump and Larry Ellison, a financial backer of the deal, who has also donated money to a group that supports Trump. Ellison’s son, David, is chief executive of Paramount Skydance.

Legal experts and analysts said they don’t think the combination of Fox and Roku raises antitrust issues because they are not dominant players in streaming and have businesses that complement each other.

But one wild card is Trump.

“You never know what Trump is going to seize on and decide he wants to do,” said Bryan Sullivan, a partner with law firm Early Sullivan Wright Gizer & McRae on whether Trump will take retaliatory action through the Justice Department in the Fox-Roku deal. “It’s chaos in the federal government and it could very well happen because of that reason, but it could also just be a blip and not a big deal.”

Times staff writer Stephen Battaglio contributed to this report.

Dozens of Jewish artists are defending Mark Ruffalo after Paramount Skydance branded the actor’s criticisms about software company Oracle Corp. as “antisemitic tropes.”

Support for the actor comes as Paramount Chief Executive David Ellison has struggled to get its $111-billion Warner Bros. Discovery merger over the finish line amid considerable opposition.

Ruffalo has long been an irritant to Paramount as he is a leading figure in a high-profile Hollywood campaign to block the merger. In an Instagram post late last month, Ruffalo blasted Larry Ellison’s Texas-based software company Oracle for assisting with technology to help Israeli military efforts, including in Gaza — a conflict that Ruffalo and other progressive activists have opposed because of the killing of Palestinians.

In an open letter, signed by more than 150 filmmakers, academics, writers and even a few rabbis, the group denounced “the outrageous smear campaign against our respected colleague Mark Ruffalo.”

“Enough with the false and dangerous weaponization of charges of antisemitism against those who are brave enough to point out the obvious: that the assault on the Palestinian people and the assault on our liberties at home are deeply interconnected, and there is nothing antisemitic about recognizing that fact,” the group wrote.

Tuesday’s letter was signed by several high-profile filmmakers, including Joel Coen, Hannah Einbinder, Tony Kushner, Lisa Cholodenko, Ilana Glazer, Frances Fisher, Todd Haynes and Sarah Kunstler.

The group tied David Ellison’s merger ambitions to his billionaire father’s expansive network of businesses, which now include TikTok. Larry Ellison is personally guaranteeing the equity needed for Paramount to buy Warner Bros. Discovery, and the family will become controlling owners of the merged entity.

However, the Hollywood merger is stalled because of an antitrust lawsuit brought by California Atty. Gen. Rob Bonta and 11 other Democratic state attorneys general, including from New York, New Mexico, Colorado, Nevada and Oregon. Paramount agreed to pause the transaction until the court case can be decided.

A trial is set for March 2 in Oakland, but Paramount has been agitating for industry leaders and politicians to pressure Bonta to force a settlement that would allow the deal to go through.

“The proposed merger of Paramount and Warner Brothers Discovery is no mere combination of two huge multinational companies,” the group wrote in the letter. “Yes, it will destroy thousands upon thousands of livelihoods. Yes, it will further consolidate the oligarchic control of our media (witness the gutting of CBS News). Yes, it will strangle competition and creativity in film and television production and distribution.”

The group painted the Paramount-Warner Bros. merger as “part of a larger project of tech-driven domination, a project Larry Ellison and his partners have never been shy about trumpeting — and one they themselves have explicitly linked to their support for the ongoing depredations being visited on the people of Palestine and their silencing of critics of those horrors,” the group wrote.

Paramount declined to comment.

The merger fight has grown increasingly ugly in recent weeks after Paramount threatened to leave California if Bonta continued his court fight to unravel the deal. Paramount suggested it would pull up stakes from its Melrose Avenue film studio as soon as this fall.

Then, on Aug. 21, the company accused Ruffalo of injecting “antisemitic tropes” into the opposition campaign to thwart the industry-reshaping merger that would bring HBO, CBS News, CNN, TBS and the Warner Bros. and Paramount film and TV studios under the same roof.

Leaders of prominent Jewish organizations, including the Simon Wiesenthal Center and the Anti-Defamation League, came to Paramount’s defense, blasting the Emmy-winning actor known for playing the Hulk and roles in productions for HBO.

Ruffalo defended himself, saying he was not being antisemitic. He said he was speaking out against Oracle’s use of technology to assist Israel’s military in the war in Gaza, “what we now have come to see as a genocide, which was built on an apartheid system of oppression powered by Oracle,” Ruffalo wrote in his post.

Paramount leaders have branded some of the opposition to the deal as “antisemitic.”

“Pointing out the crucial connections between what is happening in Gaza and what is happening in Hollywood is the exact opposite of antisemitism,” the group wrote in the open letter. “It is, for us, the very essence of Jewish ethical duty.”

The letter cited recent polls that reflect a majority of “American Jews now agree that Israel is committing war crimes in Gaza; and four in ten even agree that these crimes amount to genocide,” the group wrote. “Do those attacking Mark Ruffalo as an antisemite seriously believe that all these American Jews are antisemites too?”

Bonta abruptly canceled settlement talks last week, but extended an olive branch to Paramount by saying he would be willing to meet with the company to discuss ways to address his antitrust concerns.

California Atty. Gen. Rob Bonta made it clear Tuesday he holds the power to extract major concessions in the battle over the proposed Paramount-Warner Bros. merger.

A day after canceling settlement talks, Bonta said he remains open to meeting with Paramount Skydance executives to find remedies to resolve the antitrust lawsuit stalling David Ellison’s $111-billion takeover, but called on the company to end its “amateur hour” conduct.

“If you want to have an adult, legitimate, serious settlement discussion — no problem,” Bonta said during an appearance in Los Angeles. “But if you want to play games, we’ve got better things to do.”

The attorney general, who is leading the coalition of 12 states that filed an antitrust lawsuit to block the merger, repeated his stance that Paramount must make significant concessions to end the court battle — such as selling cable television channels. However, Ellison has been resistant because his company will need the steady cash-flow from Warner’s basic cable channels, including TBS, TNT and CNN, to make payments on $80-billion in debt Paramount will take on to finance the industry-reshaping deal.

Ellison’s promise to release 30 movies a year, following the merger, won’t cut it, the attorney general said.

Bonta, who was speaking at press conference to highlight public safety, expressed frustration with Paramount afterweeks of drama.

Paramount first threatened to leave California if Bonta continues to wage his court battle. Then, on Friday, Paramount accused actor Mark Ruffalo (a staunch deal critic) of making antisemitic comments, prompting prominent Jewish organizations to join the fray. One Jewish leader suggested Bonta was in cahoots with Ruffalo.

That wasn’t the issue, Bonta said, specifically pointing to leaks about the settlement talks that appeared in various news outlets.

Some reports suggested Bonta’s office sought the negotiations amid withering political pressure. Gov. Gavin Newsom, Los Angeles Mayor Karen Bass and Xavier Becerra, the Democratic nominee for governor, have separately urged a settlement to end the antitrust fight.

Bonta set the record straight: “Paramount reached out to us to have settlement discussions,” he said. “They asked for them.”

Bonta’s beef was that the substance of the nascent negotiations appeared in newspaper articles despite both sides agreeing to hold confidential talks, Bonta said, adding that crossed the line. The Wall Street Journal reported that California’s top prosecutor planned to ask Paramount for agreements to keep Warner Bros. and the Paramount Pictures film studios separate units as well as an agreement to sell some cable channels.

“We thought they were reaching out to us in good faith … unfortunately, they violated the rules of engagement,” Bonta said. “They leaked lies to the press while we were in settlement negotiations. That’s not okay … That is amateur hour.”

Paramount declined to comment. On Monday, Paramount denied it was the source of the leaks.

Bonta’s comments appeared as a show of strength after major court wins.

The coalition of attorneys general, who also represent New York, New Mexico, Colorado, Nevada and Oregon, last month won a temporary restraining order that blocked Paramount from closing the deal. Rather than lose in a hearing over a more consequential preliminary injunction, Paramount voluntarily agreed that it would not finalize the transaction until after the trial or by June 1, whichever date comes first.

U.S. District Court Judge Araceli Martínez-Olguín set a March 2 trial, which was in line with the plaintiff states’ request. Paramount had lobbied for a November date.

“We are winning in this lawsuit,” Bonta said. “They have eight of the biggest law firms in the country, making every imaginable argument under the sun. And they lost, the judge said: ‘You are likely to lose this case’… the states are likely to succeed on the merits.”

For now, no new settlement talks are scheduled.

Bonta expressed an openness to finding a truce.

“If they are willing to clean things up, put a lid on their lying leaks and engage in a way that is sincere and in good faith, we will be where we always are … happy to meet,” Bonta said.

Staff writer Kevin Rector contributed to this report.

A prominent Latino group is raising fresh concerns about Paramount Skydance’s proposed acquisition of Warner Bros. Discovery, saying the blockbuster deal would crush Latino workers and small businesses that support Hollywood.

In an open letter to California Atty. Gen. Rob Bonta, the League of United Latin American Citizens urged the state’s top prosecutor to continue his legal fight to block Paramount’s proposed $111-billion takeover of the media company that owns HBO, CNN, HGTV and the Warner Bros. film and television studios.

“No state has more to lose from this disastrous merger … than California,” LULAC National President Roman Palomares and Chief Executive Juan Proaño wrote in the six-page letter sent to Bonta late Sunday.

Thousands of jobs would be lost, and Latino voices could be squelched should the deal go through as it is drawn, the LULAC leaders said.

“The current form of the consolidation would have a devastating and unacceptable impact on Latinos, including those who reside in the Los Angeles community,” they wrote, noting Latinos make up 40% of the state’s population and nearly half of Los Angeles County, where HBO and the Paramount and Warner Bros. studios are based.

At least 4,500 jobs in Southern California would be lost if the merger goes through, according to a 120-page report last week from Los Angeles County’s economic office.

Paramount’s proposed merger has carved deep divisions and become increasingly contentious.

In recent days, Gov. Gavin Newsom, Los Angeles Mayor Karen Bass and Democratic gubernatorial nominee Xavier Becerra publicly pressured Bonta to settle the lawsuit to avoid a drawn-out court fight.

Politicians have been reacting to Paramount’s threat to move its studio, and potentially Warner Bros., from Hollywood to Tennessee or Texas unless Bonta backs down.

Theater owners and two major Hollywood unions — the Directors Guild of America and the International Alliance of Theatrical Stage Employees — have joined the parade pleading for a settlement. But the Writers Guild of America and Teamsters have steadfastly opposed the merger, warning about its potential impact on working writers and film crews.

Paramount Chief Executive David Ellison was set Monday to meet Bonta and others representing the 12 states that sued to block the transaction. But Bonta abruptly canceled the mediation session, accusing Paramount of “playing games,” leaking details and making misrepresentations about the talks despite agreeing to keep them confidential.

Paramount later denied that it was the source of the leaks.

Paramount didn’t immediately comment on the LULAC letter, but previously has touted the merger as a way to build a stronger competitor amid a pullback in local production. The company said it would “invest $30 billion annually in production and release at least 30 films a year,” a commitment that would lead to “more jobs over time, and ultimately, a stronger, more durable entertainment industry for generations to come.”

“To have it thrown in your face that Paramount will leave Los Angeles if they don’t get what they want is really just tantamount to a threat … one that will be devastating to Latinos,” Proaño said in an interview with The Times.

“There is a significant number of small businesses — Latino small businesses — and Latino residents, employees and workers that support this industry,” Proaño said. “We’ve been invisible, we’ve been silent — but we wanted to make sure that LULAC is not silent in this moment.”

In its letter, LULAC pointed to Hollywood’s most recent mergers, including Discovery’s 2022 acquisition of WarnerMedia from AT&T, saying such tie-ups underscore how media consolidation tramples over Latino voices, particularly when companies resort to job eliminations and other cost cuts to balance the expense of a corporate takeover.

After Warner Bros. Discovery Chief Executive David Zaslav took the helm, his company plodded through years of turmoil and massive layoffs. The movie “Batgirl,” which was set to feature a young Afro-Latina as lead actor, was shelved to gain tax benefits. Warner also canceled “Gordita Chronicles,” a TV show about an immigrant Dominican family, despite solid viewership.

Latino families make up “a significant portion of the film and television industry audience,” the letter said, adding that Motion Picture Assn. data show Latinos annually attend more movies per person in theaters than any other demographic group.

“Hollywood returns almost nothing for that loyalty,” the letter said. “Latino characters filled only 5 percent of speaking roles across 1,300 top-grossing films.”

“These and other harms are not collateral to the antitrust case,” LULAC’s letter said. “They are consequences of the diminished competition that will result. Every studio absorbed by a rival is one fewer buyer for a script, one fewer employer for a crew and one fewer distributor willing to bet on a story its franchise slate does not need.”

Warner Bros. Discovery nearly drowned in debt that it took on to finance its $43-billion buyout from AT&T in 2022. Ellison’s proposed Warner Bros. takeover also will be heavily leveraged with nearly twice the debt that resulted from Zaslav’s previous deal.

David Ellison has lined up nearly $80 billion in debt financing to buy out Warner investors. The tech scion is relying on a guarantee from his billionaire father, Oracle co-founder Larry Ellison, and $24 billion in equity financing from three Middle Eastern sovereign wealth funds, representing the royal families of Saudi Arabia, Qatar and Abu Dhabi.

The deal comes one year after the Ellison family bought Paramount, which had been on the ropes because of significant under-investment over the years.

“Paramount followed the same script: within months of closing its Skydance merger in August 2025, it laid off roughly 2,000 employees, about ten percent of its workforce, just after dismantling its diversity programs earlier that year,” the LULAC letter reads.

“This time, Zaslav’s going to walk away with a billion-dollar parachute and Paramount may end up with these crown jewels assets when it comes to movie-making and television programming,” Proaño said.

Aug. 24 (UPI) — California Attorney General Rob Bonta said he canceled a planned sit-down meeting with Paramount to discuss the company’s attempt to merge with Warner Bros. Discovery after details from an earlier meeting leaked.

Bonta accused Paramount of acting in bad faith in a statement issued Sunday night to The New York Times and Deadline.

“Not only did Paramount leak the alleged substance of settlement discussions, but they misrepresented these discussions, demonstrating a lack of good faith,” he said. “As soon as Paramount stops playing games and engages sincerely, my office is happy to meet again.”

Bonta is one of 12 attorneys general who sued in July to block the proposed $111 billion merger of Paramount and Warner Bros., saying it would undermine competition in the entertainment industry, increase costs for consumers and put jobs at risk.

The lawsuit came one month after the Justice Department approved the planned merger, saying it doesn’t harm consumers in the United States.

State officials met with Paramount representatives on Friday to set the agenda for Monday’s scheduled meeting. California Gov. Gavin Newsom confirmed the meeting happened Friday, Deadline reported. The entertainment news outlet said it learned of the meeting from multiple sources.

The Times reported that state officials and Paramount representatives sought to work toward negotiations after the company threatened to leave California and Newsom said he wanted a settlement in the case.

Paramount Skydance’s proposed $111-billion takeover of Warner Bros. Discovery could result in 4,500 jobs eliminated in Los Angeles over a three-year period, according to a new report.

Los Angeles County supervisors earlier this year wanted to explore the potential economic impact of David Ellison’s proposed union of two historic Hollywood studios. The report, completed this week by CVL Economics, paints a sobering picture of the potential aftermath of the debt-laden deal, including the prospect of an estimated $1.26 billion in lost wages.

“Los Angeles County’s film and television economy is already undergoing a significant structural contraction,” the report said. “The proposed merger of Warner Bros. Discovery and Paramount Skydance introduces an additional source of risk into that already changing market.”

California Atty. General Rob Bonta is leading a coalition of 12 states attempting to block the merger on antitrust grounds. A trial has been set for March. Paramount and other groups, including cinema chain owners and some Hollywood unions, have agitated for a settlement to curtail months of uncertainty over whether the deal will go through.

The proposed merger has been controversial in Hollywood due to fears of widespread layoffs. The Writers Guild of America has brought its own lawsuit to thwart the deal.

The goal of the county’s report was to provide “a comprehensive assessment of the merger’s production workforce implications,” amid the ongoing decline of L.A. based film and television production work. Los Angeles has witnessed the elimination of more than 50,000 entertainment jobs since 2022.

The 120-page report, from the county’s Department of Economic Opportunity and Film Office and requested by Supervisor Lindsey Horvath, found that more than 15,000 corporate roles would be at risk, including an estimated 2,495 jobs based in Los Angeles County.

The two companies would have an overlapping workforce within its linear cable channel divisions, film and television studios, streaming operations and corporate functions, including marketing, technology and advertising sales.

“Effects on crews, crafts, post-production personnel, vendors, and production-serving small businesses,” could also be substantial, the report said.

Paramount, in a statement, said the report highlighted the industry’s troubles and made a case for the merger.

“LA County’s own economic report underscores what we have been saying all along: our industry is in decline, production is down and jobs are being lost — and lost for good if we don’t act,” Paramount said. “Our plan to invest $30 billion annually in production and release at least 30 films a year.”

That commitment, Paramount said, would lead to “more jobs over time, and ultimately, a stronger, more durable entertainment industry for generations to come.”

Paramount has received clearances from the U.S. Justice Department and 65 other regulators around the globe to complete the merger.

For now, Bonta’s lawsuit is standing in the way.

Paramount has promised investors the deal would lead to at least $6 billion in cost savings through the consolidation of operations. The company has said the merger would ultimately be good for consumers and workers because a combined Paramount-Warner Bros. would have greater resources to compete with tech giants that are investing heavily in entertainment.

But the report pointed to the high level of debt that Paramount would have to take on — nearly $82 billion — to buy the stock of Warner Bros. Discovery shareholders to finalize the takeover.

“If revenues underperform or planned savings prove more difficult to achieve, pressure to identify additional cost reductions could increase,” the report said.

The two companies already are carrying substantial interest costs due to their existing debt structures. “In the quarter ended June 30, 2026, the two companies reported a combined $712 million in operating income and $737 million in net interest expense,” the report said, meaning that the companies were producing less profit than what was needed to support their debt obligations.

Despite Paramount predicting cost savings and reduction in debt over time, “those savings will take several years to fully realize,” the report said.

David Ellison was hoping to wrap up his $111-billion merger with Warner Bros. by September.

(PATRICK T. FALLON/AFP via Getty Images)

Television production in Los Angeles could be especially vulnerable, in large part, because Paramount and Warner Bros. already have moved most of their feature film projects outside of L.A. High levels of TV production continues at Warner Bros. complex in Burbank and Paramount’s and CBS’ soundstages in Hollywood and Santa Clarita.

“The economic impact extends well beyond employment,” with an expected elimination of $547 million in tax revenue, including $78.6 million in local taxes, the report said.

It noted that Warner Bros. and Paramount films were “particularly employment-intensive.”

“Their theatrical releases carry 2.74 times as many screen credits as the average theatrical release, while their streaming films carry twice as many,” the report found.

The document also highlighted a pre-existing pull-back in production at the two studios in recent years — something that Ellison plans to correct.

Paramount was struggling to remain solvent prior to the Ellison family’s purchase of the media company last year. Warner Bros. had scaled back offerings following Discovery’s $43-billion takeover of WarnerMedia in 2022 as it struggled to contain the debt from that deal.

“Between 2019 and 2025, Warner Bros. Discovery and Paramount accounted for a net reduction of approximately 195 major U.S. releases,” the report said. At the same time, other major distributors combined “added about 67 projects.”

Ellison is looking to finalize his massive Hollywood deal — folding CNN, HBO, TBS, Food Network and the Warner Bros. film and television studios under Paramount — as quickly as possible. He must hold together Paramount’s coalition of financiers and manage rising expenses, primarily legal fees and escalating obligations to Warner shareholders.

The state attorneys general, including from Colorado, Oregon, Nevada, Washington and New York have argued that the blockbuster merger — the largest in Hollywood in decades — would violate the century-old Clayton Antitrust Act.

Paramount hoped the trial over Bonta’s lawsuit would begin in November but U.S. District Judge Araceli Martínez-Olguín set the trial for March 2.

If the deal goes forward, just four studios — a post-merger Paramount-Warner, Disney, NBCUniversal and Sony Pictures — would control 86% of movies that are widely released (in more than 3,000 movie theaters), according to the attorneys general lawsuit. Paramount has argued that projects from Amazon MGM, Netflix and Apple should be included because they compete with the traditional companies for talent and audiences.

Paramount-Warner Bros. would also own more than 50 cable channels, including HGTV, Animal Planet, BET, MTV and Comedy Central.