A federal judge Monday granted a temporary restraining order halting the $110 billion merger between Warner Bros. Discovery Inc. and Paramount Skydance Corp.
A coalition of Democratic attorneys generals from 12 states, including California and Arizona, asked for the TRO. This came after they filed a lawsuit last week to stop Paramount Skydance's acquisition of Warner Bros. Discovery.
The attorneys general claim the merger violates Section VII of the Clayton Act by attempting to combine two of Hollywood’s biggest film distributors and basic cable network owners. If the merger were to happen, the attorneys general warn that will lead to higher consumer prices, reduced variety, volume, and quality of film and television content, as well as reduced negotiating leverage for cable and theater distributors.
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