Rob Bonta Says Warner Bros. Merger Settlement Talks Could Happen This Week If Paramount Shuts Down Leaks | Exclusive

California Attorney General Rob Bonta is open to coming to the negotiating table as early as this week, but only if Paramount Skydance agrees to “stop leaking and stop misrepresenting through their leaks” to the press, he said in an exclusive interview with TheWrap on Monday. Bonta spoke to TheWrap’s Lucas Manfredi and Sharon Waxman after abruptly cancelling his scheduled mediation session with Paramount. When asked if talks could restart this week, he said: “It’s up to them.” He went on: “They’ve got to figure out where the leaks are and shut them down. And once they figure that out, we’ll be happy to talk with them. I don’t know how long it’ll take them to figure it out and to fix it, but when they do, we’re ready,” he said. Bonta accused Paramount not only of leaking the pre-negotiation discussions, but also misrepresenting them. “They’re being cute. They’re playing games. They are purportedly disclosing confidential information from our discussions, but misrepresenting it to the press. That’s completely inappropriate.” In an earlier statement on Monday, Paramount denied leaking the meeting and said it shares Bonta’s concerns about the “public discussions and misreporting that has surrounded this deal” and remain “hopeful and stand ready to continue good faith discussions.” #Exclusive: California @AGRobBonta says he’s ready to resume settlement talks with Paramount over its proposed Warner Bros. Discovery merger, but only after the company stops leaking and misrepresenting details of the negotiations.In an exclusive interview with TheWrap's… pic.twitter.com/uI8H8nJbv9— TheWrap (@TheWrap) August 24, 2026 While he remains open to “good faith” discussions, Bonta said that specific timing around rescheduled talks depends on Ellison and Paramount. “All of this is on them. This is another bed of their own making. We were literally ready to talk to them because we assumed, as I think we should, that they were interested in having good faith, sincere settlement negotiations until and unless they prove us wrong,” he said. A spokesperson for Paramount did not immediately return TheWrap’s request for comment on his latest remarks. Bonta’s comments come as the state AGs, Writers’ Guild of America and Paramount are headed to trial in March. Starting Oct. 1, Ellison will also be on the hook for a 25 cent per share ticking fee, which translates to a payout of $650 million per quarter or around $7 million per day until the deal is closed. If the deal is not closed at all due to regulatory matters, Paramount must also pay Warner Bros. a $7 billion break-up fee. Bonta reiterated on Monday that the state AGs are “not interested” in behavioral remedies being offered by Paramount, such as Ellison’s pledge for 30 theatrical film releases a year. When asked for specific examples of what a structural remedy could look like, Bonta told TheWrap that someone else would have to own a “significant” portion of the 50 basic cable channels that would be included under the combined company, but stopped short of saying CNN would be one of them. “We have some thoughts on [specific channels]. I’m not going to share those with you. If we do end up ever having productive settlement negotiations, that is something to be discussed,” he added. “But the idea of what it means to have a structural remedy, for example, in the basic cable channel licensing market means separate ownership of a significant number of those channels.” The Wall Street Journal has also reported that Bonta is interested in keeping the operation of the two companies’ studios separate. More to come…