Judge halts $110 billion Paramount-Warner Bros. deal for 14 days
What's next: A lawsuit by 12 states will test whether the merger would illegally cut competition in film, cable and streaming.
A federal judge on Monday temporarily blocked Paramount’s proposed takeover of Warner Bros. Discovery, stopping the roughly $110 billion media merger for 14 days while an antitrust case moves forward. U.S. District Judge Araceli Martínez-Olguín granted the restraining order after a coalition of 12 states, led by California and joined by New York, argued the deal would reduce competition and could raise costs for audiences and distributors. The states’ challenge focuses on theatrical releases, blockbuster films and cable channels. The ruling bars the companies from closing the transaction or beginning to combine operations as the court weighs whether the merger should be stopped for longer.