Judge hits brakes on Paramount, Warner Bros. Discovery merger

A judge in California has put Paramount’s planned takeover of Warner Bros. Discovery on hold while the court considers a sweeping antitrust lawsuit challenging the multibillion-dollar transaction, which was brought against the company last week.

Judge Araceli Martínez-Olguín granted a request from California Attorney General Rob Bonta that the merger be paused for two weeks while she considers whether to hear a case he and 11 other state attorneys general are pursuing, which seeks to kill the merger on antitrust grounds.

“This is a critical first win in our case to ensure this megamerger never sees the light of day,”  Bonta said in a statement. “History tells the tale of what happens when a few people have great power over markets that are central to Americans’ lives: fewer opportunities for more people, worse products and services for all people.”

The group of state AGs argued as part of its suit that the Paramount-Warner Bros. Discovery deal would hurt competition in the business of media and entertainment, “creating a massive company with unprecedented power and influence over news and entertainment........

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