Judge Orders Temporary Block of Paramount Warner Bros. Merger
A US District Judge has issued a temporary restraining order barring Paramount from closing its $110 billion merger with Warner Bros Discovery, NBC reports.
US District Judge Araceli Martínez-Olguín of the Northern District of California has paused the merger after attorneys general from 12 states filed a lawsuit last week against Paramount Skydance, which is run by David Ellison. Martínez-Olguín said the restraining order would remain in effect for 14 days and scheduled a hearing on Aug. 3 for the states’ motion for a preliminary injunction.
The original lawsuit, filed in the US District Court for the Northern District of California, claimed the merger would create a monopoly and reduce competition across the film and cable industries. The deal cleared the US Department of Justice in June, with that agency stating that the merger would likely not cause harm or “raise actionable antitrust concerns.”
Under the proposed deal, CNN...
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