Connecticut has accepted a multi-state settlement that clears the way for the Paramount/Warner Brothers merger it had opposed.
The state signed off on the deal because it was in the minority on its demand that CNN and CBS News be divested to protect ethical, independent journalism, according to Attorney General William Tong.
“The challenge is I was part of a 12-state coalition. I fought as hard as I possibly could but to be very candid, I was outnumbered,” Tong said on Tuesday.
In the settlement, Paramount agreed to an editorial board structure to help protect the editorial independence of both news organizations, enforceable under a consent decree.
Tong also opposed the merger, arguing that media consolidation is not good for consumers.
“The reason why I oppose it is that I am certain of one thing in this world: if you have concentration in marketplaces, prices go up,” he said.
“We are talking about streaming. We are talking about what you pay every month as cable channels move to streaming; we’ll pay more for those streaming platforms like YouTube TV,” he said,
“All of that we will pay more for with more concentration,” Tong said.
But the federal government’s abdication of its enforcement role in the fight left states with one hand tied behind their backs, Tong said.
