The Paramount Deal Is in Trouble. It’s Not About the Movies.

Ms. Waxman is a contributing Opinion writer.

After months of dread, Hollywood has been thrown sideways by the news that 12 state attorneys general might have found a way to trip up the merger that almost nobody in the entertainment industry wanted.

For months, the acquisition of Warner Bros. Discovery by Paramount Skydance has been an all-but-done deal. A friendly thumbs up from........

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