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1 week ago

Paramount-WBD merger on hold after judge grants temporary restraining order

Paramount Skydance’s planned takeover of Warner Bros. Discovery hit a snag on Monday when a judge granted a temporary restraining order on the merger. Paramount CEO David Ellison is seeking to acquire WBD in a $111 billion deal that was expected to close during the third quarter of this year, but California Attorney General Rob Bonta is leading a group of 12 state attorneys general who filed a lawsuit challenging the merger. The lawsuit claims the megadeal would "lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, an...