Judge Plans to Rule Next Week on Paramount, Warner Bros.
The judge’s ruling could delay the $110 billion merger for months as states argue it would reduce competition in film and cable licensing.
- U.S. District Judge Araceli Martínez-Olguín will rule by July 22 on a temporary restraining order to halt the $110 billion Paramount Skydance acquisition of Warner Bros. Discovery, following a motion from 12 states seeking to block the deal on antitrust grounds.
- California Attorney General Rob Bonta is leading the coalition, arguing the merger would reduce competition in film distribution and cable, potentially resulting in "higher prices, lower content quality, and fewer movies and TV shows."
- Representing the states, Attorney James Weingarten called it the "largest merger in Hollywood history," alleging the combined entity would control "more than a quarter of every dollar" generated in America through box office.
- Paramount attorney Jeffrey Kessler urged the court to deny the TRO, arguing the deal is necessary to compete against major streaming services and generates essential cost synergies for the company.
- Granting the temporary pause could delay the transaction for months, while significant delay fees for Warner Bros. shareholders begin accruing after September 30 if the merger fails to close promptly.
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Paramount and Warner Bros. are facing problems in bringing about their merger after the lawsuit in the United States, to the extent that they will have to wait for a court decision before July 22.The future of Paramount and Warner Bros. will depend on this, as the acquisition could last several weeks and even months.The future of Paramount and Warner Bros. will be decided before July 22.According to a CNN report, Judge Araceli Martínez-Olguín wi…
Paramount-Warner Bros. Merger: Judge Will Rule on Temporary Restraining Order by Wednesday
Judge Araceli Martinez-Olguin will decide on whether to issue a temporary restraining order against the pending $110 billion Paramount-Warner Bros. Discovery merger by July 22. The update comes after lawyers for a group of 12 state attorneys general, Paramount and Warner Bros. Discovery made their arguments to Olguin during a Friday court hearing. The state AGs sued to blocked the merger on Monday, arguing it would create an entertainment giant …
Los Angeles (USA), Jul 17 (EFE).- U.S. justice reported this Friday that it will issue next week the 12-state lawsuit to stop the merger between Paramount and Warner Bros. Discovery for monopoly risks. California’s federal court, which oversees the challenge filed this week by 12 attorneys general, led by California and New York, heard arguments from both sides at a hearing held in Oakanland City. It is expected that the ruling on this petition …
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Judge plans to rule next week on Paramount, Warner Bros.
(The Center Square) – A federal judge plans to decide by Wednesday whether to grant a temporary restraining order in a case that pits state attorneys general against Warner Bros. Discovery and Paramount Skydance.
Judge delays ruling on California's bid to freeze Paramount's $111B takeover of Warner Bros. Discovery
A judge on Friday declined to issue a ruling from the bench regarding California’s request for a temporary restraining order freezing Paramount’s planned takeover of Warner Bros. Discovery (WBD) 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 …
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