Paramount and California to hold preliminary talks on Warner Bros deal, NYT reports

Paramount and California state officials are set to meet on Monday to discuss a ​potential settlement path of the state's lawsuit ‌aimed at stopping Paramount's acquisition of Warner Bros. Discovery, the New York Times reported on Saturday citing ​sources familiar with the discussions.

The talks are preliminary, and ⁠there is no assurance that they will lead ​to meaningful negotiations toward a settlement, the report ​said, adding that Paramount requested the meeting.

Reuters couldn't immediately verify the report. Paramount didn't immediately respond to a ​request for comment outside regular business hours.

The ​meeting, which will include senior executives and lawyers from ‌each ⁠side, has been in the works for a little over a week, NYT added, citing one of the people.

Last month, California and 11 ​states sued to ​block Paramount's $110 ⁠billion acquisition of Warner Bros. Discovery, alleging the deal would lessen competition ​in film distribution and cable television, ​harming ⁠theaters and pay TV distributors.

States including New York, Arizona and Minnesota argued the deal would harm ⁠theaters ​and television distributors, raise prices ​for consumers and make wages less competitive for workers.

- Reuters