Judge pauses Paramount’s $110B acquisition of – Business News
A decide on Monday paused Paramount’s $110 billion acquisition of Warner Bros. Discovery, after a group of 12 Democratic attorneys basic led by California sued to dam the deal, arguing it could hurt shoppers and scale back competitors.
California Attorney General Rob Bonta had argued the merger would result in “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 Paramount tower on the Paramount Studios lot. Getty Images
An aerial view of the Warner Bros. Studio lot. Getty Images
Paramount and Warner Bros. logos. Paramount is hoping to accumulate Warner Bros. Discovery. REUTERS
The US Department of Justice’s Antitrust Division greenlit the huge media merger in June, however it’s nonetheless dealing with regulatory challenges overseas and several other lawsuits within the US.
