12 States Sue Paramount to Block Warner Bros. Discovery Deal
Attorneys from 12 states have filed a lawsuit against Paramount Skydance to stop its $110 billion merger agreement with Warner Bros. Discovery. The suit, filed in the US District Court for the Northern District of California, cites concerns about a monopoly and reduced competition across the film and cable industries and among audiences in general. The deal cleared hurdles with the US Department of Justice in June, with the agency stating that the merger would likely not cause harm or "raise actionable antitrust concerns."
California's attorney general, Rob Bonta, is leading the effort with counterparts from New York, New Jersey, Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Mexico, Oregon and Washington. The group of attorneys general is asking Paramount to halt the process until after litigation, or they will plan to file a temporary restraining order. According to the group, Warner Bros. Discovery and Paramount would control 27% of the...
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