Paramount Halts Warner Deal Amid US States’ Legal Challenge http://dlvr.it/TTj18c
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Paramount Halts Warner Deal Amid US States’ Legal Challenge http://dlvr.it/TTj18c
The blockbuster deal will be paused while a federal judge considers an antitrust lawsuit filed by 12 state attorneys general.
...They've put it off until after the midterms. Isn't THAT interesting.
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July 20 (Reuters) - A coalition of states led by California won a pause of Paramount's (PSKY.O), opens new tab $110 billion acquisition of Warner Bros. Discovery (WBD.O) on Monday, after they argued letting the merger close would irreparably harm competition. California and 11 states sued on July 13, arguing the deal would create a media behemoth with the power to raise prices in film and television.
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Paramount Skydance’s takeover of Warner Bros. Discovery hit a roadblock Monday after a federal judge temporarily paused the proposed merger, granting a request from a coalition of 12 state attorneys general who sued to thwart the $110 billion deal. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. U.S. District Judge Araceli Martínez-Olguín of…