A California judge granted a temporary restraining order as part of the lawsuit brought by state attorneys general due to antitrust concerns
Lillian Rizzo at CNBC:
Paramount Skydance’s proposed acquisition of Warner Bros. Discovery hit its first official roadblock when a judge granted a temporary restraining order on the merger as part of a lawsuit brought by state attorneys general.
California District Judge Araceli Martínez-Olguín signed off on the order Monday after hearing arguments from both sides in an Oakland courtroom on Friday. The order puts a 14-day pause on anything moving forward with the merger.
Last week, a group of state attorneys general led by California’s Rob Bonta filed a lawsuit seeking to block the $110 billion acquisition due to antitrust concerns. The proposed deal would unite the storied film studios of Paramount and Warner Bros, the CBS broadcast network, a sprawling portfolio of pay TV networks that includes CNN, TNT, MTV and BET, and streaming services Paramount+ and HBO Max, under one roof.
In a statement Monday, a Paramount spokesperson said the company is “confident the evidence will demonstrate that the State AGs’ antitrust arguments are without merit as their alleged markets and claims of anticompetitive effects are without any basis in modern market realities.”
“This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry. We will continue to vigorously defend the transaction and will look forward to the hearings on the substance of the State AGs’ action,” according to the statement.
Warner Bros. declined to comment.
The lawsuit said the proposed deal would violate the Clayton Antitrust Act — a more than 100-year-old law that prohibits anticompetitive mergers and acquisitions. The lawsuit was brought by a group of states that also includes Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon and Washington.
In Monday’s order, Martínez-Olguín said the coalition of state attorneys general presented “compelling evidence that the combined firm resulting from the transaction will possess substantial market share in the wide-release theatrical distribution market.”
[...]
The Paramount-WBD transaction has been under review by the European Union and the U.K., which provided a new provisional deadline of July 22.
The Antitrust Division of the U.S. Department of Justice signed off on the tie-up in June, clearing it of federal concerns. It has also won approval from several global jurisdictions.
Paramount has said it’s on track to close the deal by the end of September.
If the transaction were to be delayed beyond then, Paramount could face additional costs, namely a so-called ticking fee that kicks in if it’s not closed after Sept. 30. The fee would be an additional 25 cents paid to WBD shareholders per quarter until closing — which would equal about $650 million in cash value per quarter.
Paramount also agreed to a $7 billion breakup fee if the deal doesn’t move forward due to regulatory concerns.
Good news: the disastrous Paramount/Warner Bros. Discovery merger has hit a temporary snag, thanks to Judge Araceli Martínez-Olguín granting the TRO.
See Also:
AP, via The Guardian: Judge orders pause on Paramount-Warner merger after challenge from 12 states
Reuters, via HuffPost: Judge Orders Paramount To Temporarily Pause Warner Bros Acquisition
I’m staying true to my promise that I’d post nsfw of senshi for free if he won the tumblr sexyman poll. Since he didn’t win, it’s going on my patreon instead.
HOWEVER!
for the next week if you use the code “ITSHOULDHAVEBEENSENSHI” you can get 50% off membership subscriptions 🥘
and remember!! don’t sign up through ios—they add an extra charge for that!!
"Tattoos are becoming unpopular", "piercings are unpopular again", "keep your hair natural never dye it again, it's the trend now" literally fuck off I know what y'all are doing
leia organa truly has one of the best bait-and-switch character introductions of all time because when you meet her she's this brave, stoic picture of elegance and justice and always knows just what to say to vader and tarkin and is clad in white like an angel and is this perfect two-dimensional archetype of pureness of heart. and then approximately half an hour later into the film she meets luke and han and she IMMEDIATELY shows her true colors as a sarcastic, bitchy control freak with a massive impulsive streak and a deep mine of hyperspecific insults. 10/10 character design i'm obsessed with her
Contrary to popular belief the biggest beginner's roadblock to art isn't even technical skill it's frustration tolerance, especially in the age of social media. It hurts and the frustration is endless but you must build the frustration tolerance equivalent to a roach's capacity to survive a nuclear explosion. That's how you build on the technical skill. Throw that "won't even start because I'm afraid it won't be perfect" shit out the window. Just do it. Just start. Good luck.
ok i've been working on my book notes repository enough that i'm ready to promise that i'll deploy it on august 11th! i've been working on critical reading guides for it: a general one and then ones tailored specifically to each book i want to cover.
but i also remember how, even just a few years ago, it was SO hard for me to focus on getting through books at all. for like a solid ten years i struggled to read any books outside of what was assigned to me for class. and you know. even then. like my attention span was so shot that i couldn't make it more than a page or two at a time.
over the past four years i've really been working on that by setting incremental goals (10 books a year, then 25, then 50, and now 100). i wanted to share some of the tools & tricks that have been the most effective for me. since i'm constantly asking y'all to read some book or other, it felt like the right thing to do, lol.
if you've been through this process & have anything that really worked for you, feel free to add it in a reblog!
A guide for people who want to read more, but aren't sure how to get there.
pop health science is so annoying bc it'll be like "did you know? eating strawberries will give you mega cancer" and you're like pfft whatever begone influencer. but sometimes then you'll see a reasonably credible article like "Study Shows Possible Link Between Strawberries and Mega Cancer" and you're not usually the type to follow that kind of thing religiously but idk maybe you should consider not eating strawberries? but then there's another article saying "Strawberry/Mega Cancer Study Debunked" and it turns out the original study had a sample size of 3 and was funded by Big Blueberry, and strawberries may have a small connection to mega cancer but only if you are genetically predisposed to mega cancer and eat 50 strawberries every day. so you return to your strawberry eating life. but whenever you eat strawberries in public someone tells you about the mega cancer.
i love you archival work. i love you alphabetizing. i love you sorting. i love you reshelving. i love you document restoration. i love you shelf reading. i love you inventorying. i love you analysis. i love you archival work.
all the rights that come with marriage you should be able to have without marriage btw. you should be able to designate a person who can visit you in the hospital regardless of your relationship to that person.
People in the notes are saying "You can!" referring just to the hospital visitation part, and sure (depending). But people should have access to ALL of the benefits of marriage without needing to be married.
You should be able to add anyone you want on your health insurance plan.
You should be able to sponsor the visa of anyone you choose to move to your home country.
You should be able to name anyone you choose as the legal-from-birth legal coparent of any child you give birth to.
You should be able to apply for student aid on your own at any age.
And yes, yes, ideally healthcare and college should be free, international migration should be unrestricted, and the entire concept of legal parenthood should be rewritten from the ground up. But right now we're talking about marriage benefits.
[id: adorable art of cartoon crocodilians of various shapes and colors living their lives - sleeping, playing with butterflies and baby crocs, and mainly swimming.]/end id.
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