Paramount is reportedly revealing details about the antitrust discussions surrounding its acquisition of Warner Bros. Discovery, even if this information is somewhat already known. It’s interesting how one individual treats it like a major wrongdoing.
Meanwhile, actor Mark Ruffalo has made some rather baffling and arguably prejudiced remarks against the Ellison family, who own Paramount, as a way to stir up opposition to the deal—yet, he seems to downplay its significance.
Step into the unusual, and often ridiculous, realm of California Attorney General Rob Bonta.
It’s worth noting that Bonta wasn’t particularly well-known until he decided to lead a group of liberal Attorney Generals in a lawsuit seeking to block Paramount’s $81 billion acquisition of Warner Bros. Discovery on antitrust grounds.
As the chief legal officer for the state, you might assume he has his hands full with various pressing issues faced by Californians—like homelessness, wildfires, and rising taxes that are pushing middle-class families and small businesses out of the state. And let’s not forget the actual crime that plagues many areas, making them nearly unlivable.
But it gets even more convoluted.
Bonta seems to believe that it’s appropriate for a state AG to halt a deal that has already received approval from major regulatory bodies, including those in the US, EU, and UK. On top of that, he’s crafting a rather weak legal case suggesting that combining two struggling companies could somehow challenge the market power of tech giants. His double standards and public bravado are hard to miss.
I understand he’s aiming for a future as governor and wants to establish a reputation, but that doesn’t excuse the contradictions in his stance.
Take his relationship with Ruffalo, for instance. While Ruffalo is a talented actor, his political views can be quite peculiar, and he often shows a lack of understanding about the business side of his industry.
Ruffalo has positioned himself as a leader for Hollywood’s opposition to the merger, launching petitions and frequently urging regulators via social media to block the deal, all under the premise that it will undermine competition.
Inspired by Hollywood Activism
It almost feels like Bonta’s legal stance is influenced by Ruffalo’s uninformed rhetoric, as Bonta appears to genuinely believe that these two struggling companies, both significantly burdened with debt, could somehow compete with giants like Netflix and Amazon. This seems more like a slow march toward disappearance if you look at their stock prices prior to the merger talks.
Still skeptical? Just consider that on February 27, Ruffalo called for state AGs to block the acquisition after it seemed set to gain approval from all other regulatory entities, claiming “there are lots of agents in Hollywood who can tell you how past mergers and consolidations have hurt their clients and business,” as he posted on social media.
Not long after, Bonta responded, indicating he was in discussions with his AG counterparts about the Paramount/Warner Bros. situation, stating that California had a vested interest in preserving competition.
A few months later, he filed a lawsuit demanding extensive structural alterations to the deal under threat of further legal action.
From the perspective of antitrust lawyers I’ve consulted, his case seems quite flimsy. Furthermore, Hollywood agents often lack a comprehensive understanding of antitrust issues, typically prioritizing quick financial gains and showing little concern for the long-term health of the companies involved.
Bonta’s apparent obliviousness to these dynamics is somewhat forgivable, considering he’s a politician desperately seeking attention and likely aiming to funnel in campaign contributions from progressive actors and tech firms that would gain the most if the merger is prevented.
What cannot be overlooked, however, is Ruffalo’s inflammatory claim that the merger would empower the Ellison family to promote “genocide” in Gaza. This attitude is somewhat typical of a certain segment of the extreme left, which often finds oppressors in unexpected places while defending those that engage in violence.
Ruffalo has since stated he doesn’t harbor anti-Semitic views. His representative did not respond to requests for clarification.
However, drawing connections between Larry Ellison and his son, David Ellison—both of whom are Jewish—and notions of “genocide” and “apartheid” is truly unfortunate. Equally disturbing is Bonta’s silence on this matter.
Ruffalo suggests that Oracle, founded by Larry, powers what he sees as Israeli oppression. His perspective on the current conflict, especially following the tragic events of October 7, 2023, reflects a viewpoint that equates Israel’s actions with both oppression and genocide. This is from the very same individual who appears to have sparked Bonta’s legal maneuvers.
I’ve reached out to Bonta for his thoughts on this issue but haven’t received any feedback. Perhaps he’s preoccupied with addressing “leaks” or doing feel-good interviews on television.
Regardless, for all his vocal criticisms, California’s AG ought to be held to account for his failure to address these serious allegations.
