Paramount vs. the States

ImageAndrew here.JPMorgan Chase and Goldman Sachs posted huge earnings on Tuesday.

We have a breakdown below.Meanwhile, IBM’s shares are cratering after the company warned that its second-quarter earnings would be worse than expected, raising questions about the enterprise software industry all over again.ImageA potential roadblockTwelve states have sued to block Paramount’s planned takeover of Warner Bros.Discovery, throwing a potentially major (and expensive) obstacle to the closing of the $111 billion media deal.It’s perhaps the most prominent test yet of states’ efforts to become meaningful antitrust regulators in their own right, especially after a recent Supreme Court ruling scrambled the regulatory outlook of federal agencies, Lauren Hirsch writes.What’s happening: The coalition, which includes California, New York and Washington, is arguing that Paramount’s takeover of Warner Bros.

Discovery would hurt movie theaters by creating a giant new film distributor.Rob Bonta, California’s attorney general, also accused the Justice Department of an “abdication” of its antitrust duties after it cleared the transaction.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.

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