Judge pauses Paramount’s attempt to buy Warner Bros Discovery
Richard Lawler is a senior editor following news across tech, culture, policy, and entertainment. He joined The Verge in 2021 after several years covering news at Engadget.
A judge partially granted the request from a dozen state attorneys general to temporarily place the $110 billion merger of Paramount and Warner Bros Discovery on hold, as reported by Variety and Reuters. US District Judge Araceli Martínez-Olguín said that based on the new company’s market share, “the Court is persuaded that it can presume the proposed merger is likely to violate antitrust laws,” and that the states showed “irreparable harm” could occur without a temporary restraining order.
A week ago, California, Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington sued to block the deal for 28 days, saying the newly-created “media behemoth” would harm competition, and that if the deal is allowed to...
Copyright of this story solely belongs to theverge.com. To see the full text click HERE
