Paramount-WBD Merger Risks 3-Week Freeze as 12 States and WGA Sue
Updated
Updated · CNN International · Jul 14
Paramount-WBD Merger Risks 3-Week Freeze as 12 States and WGA Sue
3 articles · Updated · CNN International · Jul 14
Summary
A Friday TRO hearing could delay Paramount’s takeover of Warner Bros. Discovery by two to three weeks, with people close to the deal expecting the judge to grant the states’ request.
Twelve Democratic state attorneys general sued Monday to block the merger on antitrust grounds, arguing the deal could close before key legal review is finished and should be stopped while the case proceeds.
The Writers Guild of America filed a separate suit Tuesday, saying the merger would reduce the number of buyers for films and TV shows and hurt writers; a consumer case is also moving through court.
Paramount still says it expects to close by the end of September after DOJ approval last month, but an injunction fight could stretch for months and trigger a ticking fee from Oct. 1 that adds 25 cents per WBD share each quarter.