US judge suspends Paramount’s acquisition of Warner Bros
ONP Summary
After 12 states sued challenging the deal as anticompetitive, a federal judge halted the $110 billion Paramount-Warner Bros. merger. The court froze the transaction temporarily and will rule whether to maintain the freeze through preliminary injunction pending the lawsuit's outcome.
A federal judge in California on Monday ordered Paramount Skydance and Warner Bros Discovery to temporarily pause their merger while a case brought by multiple states challenging the deal moves forward.
The companies are prohibited from closing their US$110 billion deal for 14 days until another hearing is held on August 3 regarding a preliminary injunction, which would prevent Paramount and Warner Bros from closing the transaction before a final decision is reached.
The states raised “serious...
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