00:00It's Benzinga bringing Wall Street to Main Street.
00:03The Writers Guild of America sued to block Paramount's $81 billion acquisition of Warner
00:07Brothers Discovery, alleging the merger would reduce jobs, suppress wages, and limit creative
00:14diversity, according to The Wall Street Journal. The complaint was filed in Northern California
00:19federal court one day after 12 Democratic state attorneys general challenged the transaction
00:24and sought to temporarily halt the closing. The WGA said the combined company would become
00:30the largest employer of film and television writers and gain greater power to lower compensation.
00:37Paramount said the deal would strengthen competition with Netflix and Amazon and benefit consumers,
00:43while U.S. and overseas regulators have approved the transaction. The WGA represents about 18,000
00:50writers nationwide. For all things money, visit Benzinga.com.
00:54For all things money, visit Benzinga.com.
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