Bloomberg Talks California Attorney General Rob Bonta Talks Warner Bros./Paramount
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Feb 27, 2026 
Rob Bonta, California Attorney General and former state legislator who enforces consumer protection and antitrust law, breaks down the Warner Bros./Paramount deal. He talks about regulatory review, which markets are most at risk, concerns over news consolidation, and possible interim actions California might take. He also discusses recent Supreme Court tariff rulings and legal limits on presidential tariff authority.
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Deal Not Final Pending Antitrust Review
- The Warner Brothers–Paramount acquisition is not finalized because regulatory review is ongoing.
- California Attorney General Rob Bonta says his office opened an investigation to assess potential anti-competitive impacts on prices, wages, quality, and choice.
Multiple Markets At Stake Beyond Just A Studio
- The investigation will examine which market(s) the merger affects, including studio consolidation and streaming services.
- Bonta warns the merger could reduce consumer choice, raise prices, and diminish creative output for California's 40 million residents and beyond.
News Media Consolidation Is A Major Concern
- News and independent journalism are a central concern in the merger review, especially properties like CBS and CNN.
- Bonta says protecting independent, objective news is part of the state's assessment of consolidation risks.