Judge pauses Paramount’s attempt to buy Warner Bros. Discovery
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 close, then the companies could start hard-to-undo actions like layoffs and information sharing.
The judge put in place a 14-day restraining order and set a hearing for the preliminary injunction on August 3rd. If the deal hasn’t closed by September 30th, Paramount will owe Warner Bros. investors millions of dollars based on how long it takes, as laid out in the agreement it used to beat Netflix’s $83 billion offer.
California AG Rob Bonta said over the weekend that the ticking fee starting in October “is a choice that Paramount made. They agreed to it as a party with Warner Bros. They might regret it, but they absolutely knew that this proposed merger was going to have to go through a regulatory process, and that that would take time,” while also dismissing threats about Paramount moving out of California, and saying that a CNN spin-off plan wouldn’t resolve the states’ lawsuit. After the judge’s decision was released on Monday, Bonta released a statement saying, “This is a critical first win in our case to ensure this megamerger never sees the light of day.”
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…
Recent Posts
- Amazon’s Adaptive Display for Fire TVs is officially rolling out today
- Here are the 30,000 songs Sony is suing Udio’s AI music generator over
- The FCC is planning to retroactively ban disguised DJI gadgets
- The first UL 3700-compliant plug-in solar microinverter is now available in the US
- The Odyssey turned me into an IMAX believer
Archives
- July 2026
- June 2026
- May 2026
- April 2026
- March 2026
- February 2026
- January 2026
- December 2025
- November 2025
- October 2025
- September 2025
- August 2025
- July 2025
- June 2025
- May 2025
- April 2025
- March 2025
- February 2025
- January 2025
- December 2024
- November 2024
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023