www.thewrap.com: When asked directly about the prospect of a potential sale of the media giant and whether it would sue to block it, a spokesperson for Attorney General Robert Bonta’s office told TheWrap it believes “further consolidation in markets that are central to American economic life — whether in the financial, airline, grocery or broadcasting and entertainment markets — does not serve the American economy, consumers or competition well.”
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Super mergers aren’t a good thing, and I appreciate that the California DOJ is opposing this one. Warner Bros. Discovery is a mess of a company, with dozens of blunders under their belt. The renaming and constant rebranding of HBO Max alone can be studied as exactly what not to do as a company with dozens of famous and lucrative IPs to their name. So it’s no surprise that Warner Bros. Discovery is going under and seeking to sell off their company with just how poorly they’ve managed it, but the solution can’t be a super merger. The Writers Guild of America is in no way mistaken when they say that big mergers “[harm] workers, [diminish] competition and free speech, and [waste] hundreds of billions of dollars better invested in organic growth. These mergers are nothing more than power games with vast sums of money, all at the expense of those working under these corporate despots. I hope this merger doesn’t go through because I feel it could only bode poorly for the future of the entertainment industry.
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