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“Discovery in a $110 billion transaction, making it the largest media merger in history.”
“Discovery after a coalition of 12 states sued for violation of antitrust laws .”
“Paramount made a push to acquire the whole of WBD after Netflix originally won the right to purchase just the studio side of WBD, leaving behind the cable channels.”
“On Monday, July 13, the group of states as led by California District Attorney Rob Bonta wrote in a suit that a Paramount-WBD merger would “extinguish competition between Paramount and Warner Bros.”
“There was word that Paramount expected to close its transaction by July 22 , but that will now have to wait.”
“The deal will be paused for 2 weeks, or 14 days, while the state attorneys general who brought the lawsuit seek injunctive relief.”