# The Democracy Defenders Fund touted the letter’s signatures from over 75 Academy Award winners and nominees, including actor Joaquin Phoenix and director Denis Villeneuve.

*business · news · 2026-04-13 · Washington Examiner*

## Key points

- California Attorney General Rob Bonta is leading an antitrust investigation into the Paramount-WBD merger.
- Bonta is reportedly coordinating with New York Attorney General Letitia James on potential multi-state legal action.
- If the merger is delayed past September 30, WBD shareholders receive a 25-cent-per-share quarterly ticking fee.
- Paramount must pay a $7 billion termination fee if antitrust authorities block the deal.
- The UK Competition and Markets Authority is preparing to launch its own investigation into the merger's impact.

**Companies:** Paramount, Warner Bros Discovery
**Countries:** United States, United Kingdom

[Read the full story on Washington Examiner](https://www.washingtonexaminer.com/news/entertainment/4526401/hollywood-stars-back-rob-bonta-block-paramount-warner-bros-merger/)

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