Judge Orders Temporary Block of Paramount Warner Bros. Merger
Judge Orders Temporary Block of Paramount Warner Bros. Merger
A US District Judge has issued a temporary restraining order barring Paramount from closing its $110 billion merger with Warner Bros Discovery, NBC reports.
US District Judge Araceli Martínez-Olguín of the Northern District of California has paused the merger after attorneys general from 12 states filed a lawsuit last week against Paramount Skydance, which is run by David Ellison. Martínez-Olguín said the restraining order would remain in effect for 14 days and scheduled a hearing on Aug. 3 for the states’ motion for a preliminary injunction.
The original lawsuit, filed in the US District Court for the Northern District of California, claimed the merger would create a monopoly and reduce competition across the film and cable industries. The deal cleared the US Department of Justice in June, with that agency stating that the merger would likely not cause harm or “raise actionable antitrust concerns.”
Under the proposed deal, CNN and CBS News, streaming services HBO Max and Paramount Plus, and film and television studios would be combined into a single media giant. That makes the lawsuit especially significant because it could reshape the media landscape if the deal is ultimately allowed to move forward. David Ellison’s father, billionaire Oracle founder Larry Ellison, is a high-profile donor and supporter of President Donald Trump.
A Paramount representative didn’t immediately respond to a request for comment.
Meanwhile, the European Union is still vetting the transaction and is set to issue an approval or denial this month.
TV and home video editor Ty Pendlebury joined CNET Australia in 2006, and moved to New York City to be a part of CNET in 2011. He tests, reviews and writes about the latest TVs and audio equipment. When he's not playing Call of Duty he's eating whatever cuisine he can get his hands on. He has a cat named after one of the best TVs ever made. See full bio
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