Judge freezes Paramount-Warner $81 billion merger for 2 weeks
What’s next: A court hearing on Aug. 3 could extend the pause and move the states’ bid to block the Hollywood deal.
A federal judge in New York ordered Paramount and Warner Bros. Discovery to stop work on their $81 billion merger for at least 14 days, giving 12 states more time to press an antitrust challenge. District Judge Araceli Martínez-Olguín granted a temporary restraining order after the states, led by California, argued the tie-up would reduce competition in Hollywood and leave consumers with fewer choices in movies, cable and streaming. The companies had been expected to try to close the deal within days. The order can be extended up to 28 days, and the court set an Aug. 3 hearing on the states’ request for a preliminary injunction.