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A federal judge has paused Paramount Skydance's takeover of Warner Bros. Discovery in response to a lawsuit last week from a dozen state attorneys general looking to block the deal on antitrust grounds.
A federal judge on Monday temporarily blocked Paramount from completing its $110 billion acquisition of Warner Bros. Discovery.
A federal judge on Monday ordered Paramount and Warner Bros. Discovery to halt their $81 billion merger for at least two weeks, allowing states that are challenging the deal more time to see their case through in court. Twelve states, led by California, sued to block Paramount’s pending buyout of Warner last week— alleging that such a combination would “extinguish competition” in Hollywood and lead to fewer choices for consumers, particularly moviegoers and cable customers across the U.S. The states’ top prosecutors called on Warner and Paramount to not close the transaction until after a court had time to “fully evaluate” their claims.
A 14-day restraining order halts a deal that would combine two of Hollywood's five major film studios and cable programmers
The 14-day restraining order prohibits the companies from closing the deal as a dozen states challenge it.
By Jody Godoy and Dawn Chmielewski July 20 (Reuters) - A coalition of states led by California won a pause of Paramount's $110 billion acquisition of Warner Bros.
AEW CEO Tony Khan explains to Yahoo Finance Executive Editor Brian Sozzi why Paramount's move to acquire Warner Bros. Discovery could be a major boost for AEW, and how the combined streaming footprint could put AEW in more homes and expand its live-event business.
A coalition of 12 U. S. states has launched an antitrust challenge against the proposed $110 billion merger between Paramount Skydance and Warner Bros.
Analysts say Netflix is losing control of its own story, and a single line buried in Friday's earnings report about future disclosures is making Wall Street more nervous than the guidance miss itself.
A coalition of 12 state attorneys general, led by California, has filed an antitrust lawsuit to block the proposed Paramount, Skydance, and Warner Bros. Discovery (NasdaqGS:WBD) merger valued at about US$110b. The states have also submitted emergency motions seeking a temporary restraining order, prompting immediate court hearings and a likely pause to the transaction. The filings allege threats to competition and consumer harm, as well as concerns about market concentration and special...
The states seek an injunction that could delay the acquisition for months as a federal court weighs their antitrust challenge.
New lawsuit joins states' challenge, raising uncertainty around the proposed media merger's closing timeline.
A 12-state antitrust lawsuit threatens to delay Paramount Skydance's $110 billion merger with Warner Bros. Discovery, exposing both companies' weak balance sheets to costly penalty deadlines.
The primary reason for the 12-state lawsuit is that a Paramount-WBD combination would curb entertainment content and distribution, putting the TV/movie marketplace into fewer hands. What's the fallout?
Paramount’s merger with Warner Bros. faces antitrust lawsuits, putting $30B in investment and 100M SF in limbo.
The Writers Guild of America became the latest group to challenge Paramount's $81 billion acquisition of Warner Bros. Discovery on Tuesday, filing a lawsuit that seeks to block the merger on the grounds it would cause “specific harm” to movie and TV writers working across the U.S. A Paramount-Warner merger “threatens the economic and creative health of the American entertainment industry,” reads Tuesday's federal complaint, which was filed by both the Writers Guild of America West and Writers Guild of America East (jointly the WGA). “This proposed combined entity would be the largest employer of writers, with tremendous power to suppress our wages, eliminate opportunities for emerging writers, cut jobs across the industry, and produce less programming," WGAE President Tom Fontana said in a statement.
Move by Writers Guild of America comes a day after 12 Democratic-led states sued to stop the merger on antitrust grounds.
(Updates with Paramount's comments in the third and fourth paragraphs.) Paramount Skydance's (PSK
The antitrust lawsuit could delay the merger after federal approval and before Europe's July 22 decision.
"If Paramount succeeds in buying Warner Bros., the merged firm will be the largest buyer of original film and television programming in the United States, eliminating vigorous competition from a major film and television studio that has operated for more than a century," Writers Guild of America alleged in a lawsuit filed Tuesday.
This deal could seriously harm movie theatres.
A merger between Paramount Skydance (NASDAQ:PSKY) and Warner Bros. Discovery (NASDAQ:WBD) is facing new hurdles. In the backdrop of new worries of the merger being approved, Warner Bros. Discovery CEO David Zaslav is cashing out shares. David Zaslav Sells WBD Shares Zaslav is selling shares of the company he leads for the second time this year, cashing in ahead of the highly anticipated merger of two media companies. Zaslav sold 2.18 million shares for $59.47 million, according to a report from
A consortium of 12 states led by California sued to block Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery.
Carr expressed his views on the Paramount-Warner Bros. Discovery merger, antitrust concerns and Disney’s DEI-related investigations.
Jul. 13—OLYMPIA — Washington State Attorney General Nick Brown said Monday that a proposed $110 billion acquisition of Warner Bros. by Paramount would "raise prices, reduce consumer choice, and cost many Americans their jobs" as he announced a lawsuit to block the deal. Brown joined 11 other state attorneys general who allege the proposed merger would reduce competition for licensing basic ...
Led by California, the states argue the deal is anticompetitive, would harm theaters and lead to price increases for TV bundles.
California and 11 other states have filed an antitrust lawsuit seeking to block Paramount Skydance's planned merger with Warner Bros. Discovery. The coalition of state attorneys general argues the deal could reduce competition and harm theaters, television distributors, and audiences. The legal action introduces a new hurdle for NasdaqGS:PSKY in addition to prior regulatory reviews at the federal level. Paramount Skydance, traded as NasdaqGS:PSKY, sits at the center of a consolidating media...
Twelve US states have sued to block Paramount from acquiring Warner Bros. Discovery in a $110bn deal. The states argued cinemas and moviegoers could face higher prices if the merger goes ahead, as Paramount and Warner Bros. currently compete for the best release dates and screens at thousands of cinemas across the US. The lawsuit represents a significant obstacle for the deal, which is seen as one of the biggest media mergers in history.
The merger "would extinguish competition between Paramount and Warner Bros. and inflict substantial harm on movie theatres, basic cable distributors, and, ultimately, audiences nationwide," 12 state attorneys general allege in a complaint filed Monday.
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