David Ellison needs to come up with structural remedies the state AGs will accept: Rich Greenfield

• The merger faces a hard stop on June 4th, with a $7 billion breakup fee if not completed.
• Proposed structural remedies include selling one of the studio lots (Warner Bros. or Paramount) and significant franchises like Harry Potter or DC Comics.
• Divesting Turner Networks (TBS, TNT, CNN) is also suggested to address leverage and linear TV market concerns.
• Greenfield notes Paramount's past arguments defining distinct markets (TV vs. streaming) now complicate their antitrust defense.

Rich Greenfield discusses the Paramount-Warner Bros. Discovery merger, highlighting that the legal merits of the antitrust case are secondary to finding structural remedies. He suggests selling off studio lots, major franchises, and cable networks to satisfy regulators and avoid a $7 billion breakup fee, acknowledging these would be 'painful' but necessary actions.