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Ari Emanuel Urges State AGs to Drop Paramount-Warner Bros. Merger Lawsuit
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TheWrap
Getting your Trinity Audio player ready…WME Group Executive Chairman and TKO Group Holdings CEO Ari Emanuel is urging a group of 12 state attorneys general to drop their antitrust lawsuit against the pending $110 billion Paramount-Warner Bros.
In a new op-ed with the Wall Street Journal, Emanuel argued that states’ effort is “threatening to destroy” competition in the entertainment industry.
“That kind of multibillion-dollar commitment isn’t something a company does if it intends to exert market power over suppliers or distributors,” Emanuel added.
Specifically, TKO Group Holdings, where Emanuel serves as CEO, oversaw the UFC’s signing of a massive, multi-billion-dollar media rights agreement with Paramount.
The move followed state AGs securing a court order for a temporary, 28-day restraining order to block the deal.