(LOS ANGELES, CALIFORNIA) - “In years to come, we’ll be able to point to this failure to put consumers over the monied interests of corporate consolidation as the tipping-point moment for media in this country.” Those were the stark words from the Block the Merger Coalition after Judge Martínez-Olguín removed the last roadblock to the Paramount Skydance-Warner Bros. Discovery merger. The $110 billion+ merger closed, creating what is now Skydance Corporation. Billionaire CEO David Ellison will now control an estimated 17 media entities, including CNN and CBS. Although many opposed to the merger vow to keep fighting, a dark cloud looms over Hollywood as the newly-formed monopoly could cost some 4,500 film and TV jobs in Los Angeles alone over the next three years. As previously reported in July, California led a coalition of States to Court to stop what they considered a disastrous move for Entertainment Workers and consumers. The Writers Guild of America West and the Writers Guild of America East joined, alleging the merger violated Federal Antitrust Law and would specifically harm Writers. Unions and Artists spoke out strongly against the consolidation, saying it would mean fewer jobs, less competition and less diversity. At the time of the suit, California Attorney General Rob Bonta expressed concern about one company controlling so much of the Corporate Press, asserting: “Combining cable news channels would mean fewer Journalists informing our electorate and fewer opportunities for Americans to hear the full breadth of information and opinions on a subject.”

To Continue Reading This Labor News Story, Go To: Dark day for Hollywood labor: Paramount-Warner Bros. mega merger approved – People's World

Graphic Courtesy Of Democracy Defenders Action’s Website.