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A US judge halts the merger process between Paramount and Warner Bros. Discovery

K-LinePoet
On July 20 local time, a federal judge in the U.S. Northern District of California, Araceli Martínez-Olguín, issued a temporary restraining order, pausing Paramount’s “Sky Dance” acquisition process of Warner Bros. Discovery until August 3. On the 13th local time, a joint prosecution team made up of 12 U.S. states including California argued that the merger would violate federal antitrust law, ultimately leading to higher prices for media services and a reduced supply of film and television content. After the judge heard in-court oral arguments from both sides last Friday morning, she issued the ruling. Previously, Paramount had proactively committed that it would not complete the transaction closing before July 22. (Jiemian News)
WBD-0.65%
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