The United States Court ruled, this Monday (20), that Paramount and Warner Bros. Discovery to suspend the US$81 billion merger for at least two weeks, giving more time for states contesting the transaction to take the case forward in court.
US court meets states and suspends merger between Paramount and Warner for 2 weeks
The United States Court ruled, this Monday (20), that Paramount and Warner Bros. Discovery to suspend the US$81 billion merger for at least two weeks, giving more time for states contesting the transaction to take the case forward in...
They claim the combination would “eliminate competition” in Hollywood and result in fewer options for consumers, especially moviegoers and cable TV subscribers in the United States. The attorneys general asked that Warner and Paramount not complete the transaction until the courts had time to “fully evaluate” the allegations presented.
- Faced with the companies' refusal, they requested a temporary restriction order, granted this Monday by district judge Araceli Martínez-Olguín.
- The decision paves the way for the analysis of a possible preliminary injunction, also requested by the States, which could effectively prevent the deal from being completed.
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Twelve states, led by California, filed suit last week to block Paramount's acquisition of Warner. They claim the combination would “eliminate competition” in Hollywood and result in fewer options for consumers, especially moviegoers and cable TV subscribers in the United States.
The attorneys general asked that Warner and Paramount not complete the transaction until the courts had time to “fully evaluate” the allegations presented. Faced with the companies' refusal, they requested a temporary restriction order, granted this Monday by district judge Araceli Martínez-Olguín.
The decision paves the way for the analysis of a possible preliminary injunction, also requested by the States, which could effectively prevent the deal from being completed.
United Kingdom investigates R$110 billion mega-merger between Paramount and Warner
The first phase of investigation runs until August 7th and will decide whether to approve or request further investigation. In the USA, states are preparing legal action to block the merger, which must also be analyzed in the European Union