Joe Mathieu

It's Balance of Power on Bloomberg TV and radio.

I'm Joe Matthew.

Thanks for joining us on the Friday edition.

After a month-long battle for Warner Brothers, Paramount has officially outbid Netflix by agreeing to pay $111 billion for the Hollywood studio and paying Netflix for the $2.8 billion breakup fee to terminate its initial merger agreement just a short time ago.

merger raising concerns about market consolidation of course job losses you've heard about it on bloomberg still pending regulatory approval with paramount chief david ellison already asked to testify before congress next week as democratic senator corey booker announces a probe into the potential paramount warner brothers merger and booker is not the only one with california's attorney general rob bonta warning paramount's wbd takeover is not a done deal yet vowing

a vigorous investigation, and he's with us right now for more.

Attorney General, is this deal not over?

What are you looking at?

I suspect that's an investigation that could take some time.

This is a massive and sprawling deal with a lot of properties.

Attorney General, the critics say the problem with this deal and those who favored the idea of Netflix buying it is that this takes an entire movie studio off the table.

Is that how you're looking at this?

And what would that mean for California's economy?

You know, it's of course not just studios, not just streaming services.

It's also news.

And we start talking about information on public areas in the case of CBS or otherwise on cable with CNN.

Do you worry about consolidation in that business?

Do you need promises that that would not take place?

I want to move on to some other topics, but do you have a sense of how long it'll take before you make that determination?

Weeks, not months?