California AG Reviews Warner Bros. Mergers for Antitrust Concerns

CA Attorney General Press Releases

Filed February 20th, 2026

Detected February 20th, 2026

Summary

California Attorney General Rob Bonta has issued a statement reviewing proposed mergers involving Warner Bros., Paramount, and Netflix for potential antitrust concerns. The review focuses on market concentration, competition, worker impact, and creative diversity within the media and entertainment industry.

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What changed

California Attorney General Rob Bonta has announced a close review of proposed mergers involving Warner Bros., Paramount, and Netflix, citing concerns about increased market concentration, reduced competition, potential harm to workers, and limited creative diversity. The statement emphasizes the importance of antitrust vigilance for a healthy economy and commits the California Department of Justice to fighting unlawful market consolidation.

This action signals a proactive stance by the California AG's office on large-scale media mergers. Companies involved in or contemplating similar transactions should anticipate scrutiny regarding their competitive impact. While this is a statement of review and not an immediate enforcement action, it highlights the state's commitment to antitrust enforcement, suggesting potential future investigations or challenges if deemed necessary. Regulated entities should be prepared to demonstrate compliance with antitrust laws and the benefits of any proposed consolidation.

Source document (simplified)

Attorney General Bonta Issues Statement on Proposed Warner Bros. Mergers: California is Taking a Close Look

Press Release
Attorney General Bonta Issues Statement on Proposed Warner B… Friday, February 20, 2026 Contact: (916) 210-6000, agpressoffice@doj.ca.gov OAKLAND — California Attorney General Rob Bonta today issued the following statement regarding the proposed purchase of Warner Bros. by either Paramount or Netflix — all three are among the top mass media and entertainment companies. These proposals have been met with concerns that they could increase market concentration, reduce competition, hurt workers in the media industry, and limit creative diversity.

“Further consolidation in markets that are central to American economic life does not serve our economy, consumers, or competition well. In fact, consolidation of markets has led to increased unaffordability, a loss of good-paying job opportunities, and fewer choices for consumers,” said Attorney General Bonta. “The film and entertainment industry in California not only has historical importance to our state, it also is a critical sector that buoys the state's economy of California and touches the lives of Americans daily. The proposed Warner Brothers transactions must receive a full and robust review, and California is taking a very close look. We are committed to fighting market consolidation that we find unlawful.”

Antitrust enforcement is an essential component of a healthy economy. Competitive marketplaces established through antitrust vigilance help consumers by ensuring fair prices for goods and services, an array of products to choose from, quality goods and services, and the steady introduction of innovative new products. As part of Attorney General Bonta’s commitment to enforce antitrust laws, the California Department of Justice has launched an Antitrust Complaint Form for people to report anticompetitive conduct that potentially violates antitrust laws.