The merger, already approved by both companies' boards, still requires regulatory clearance from the Department of Justice and European agencies. According to The Guardian - World, former FTC member Alvaro Bedoya described a strong possibility of a lawsuit by a coalition of state attorneys general to block the deal, led by California Attorney General Rob Bonta. If approved, WBD shareholders will receive $31 per share, and the companies expect the deal to close between July and September.
Last week, US Senator Cory Booker held a hearing featuring actor Mark Ruffalo to oppose the merger, which is likely to lead to significant job cuts. Former CNN anchor Jim Acosta, according to The Guardian - World, expressed concern about the Trump-friendly Ellison family taking over CBS News and potentially re-aligning the channel to appeal to political conservatives. In official statements, outgoing CEO David Zaslav called the vote a key milestone, and a Paramount Skydance spokesperson said they look forward to closing the transaction.
I think the question is not just whether he'll intervene, but how many of his fellow state attorneys general will join him.
This is not a done deal. This deal can get blocked. I personally think it will get blocked or undone.
I think that the danger is very real that a propaganda network will emerge from this merger and the shareholders need to be asking themselves, 'Is what they're about to do going to be good for America?'