A federal judge in the US issued a ruling temporarily halting Paramount Skydance's $110 billion acquisition of Warner Bros. Discovery. The decision came after 12 state attorneys general sought an emergency injunction, citing concerns the merger would harm competition.
The court order will remain in effect for 14 days. The state attorneys general argue the mega merger would significantly reduce competition in film distribution, broadcasting, cable TV, and satellite markets. They say this could lead to higher prices and fewer content choices for consumers.
Paramount, for its part, announced it would vigorously defend the deal. The company stated it had obtained the necessary approvals from the US Department of Justice as well as regulatory bodies in various countries.