A judge on Monday paused Paramount’s $110 billion acquisition of Warner Bros. Discovery, after a group of 12 Democratic attorneys general led by California sued to block the deal, arguing it would harm consumers and reduce competition.
California Attorney General Rob Bonta had argued the merger would lead to “higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the US.”
The US Department of Justice’s Antitrust Division greenlit the massive media merger in June, but it is still facing regulatory challenges abroad and several lawsuits in the US.