Judge temporarily pauses Paramount's Warner Bros. takeover

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Set us as preferred A federal judge has temporarily blocked Paramount Skydance’s efforts to complete its Warner Bros.Discovery merger, ruling that the proposed merger “raises serious questions” about whether the blockbuster $111-billion deal violates U.S.

antitrust law.District Judge Araceli Martínez-Olguín, based in Oakland, on Monday granted a temporary restraining order request by a coalition of 12 state attorneys general, led by California Atty.Gen.

Rob Bonta, to freeze the deal while the court delves more closely into its impact on markets.The order pauses the deal for 14 days.Hollywood Inc.

Federal Judge Araceli Martínez-Olguín said she would decide by next Wednesday whether to issue a temporary restraining order that would pause the blockbuster Hollywood deal.“This is a critical first win in our case to ensure this megamerger never sees the light of day,” Bonta said in a statement.“History tells the tale of what happens when a few people have great power over markets that are central to Americans’ lives: fewer opportunities for more people, worse products and services for all people.

With our lawsuit, we’re fighting for a free and fair market and a thriving film and television industry that serves creatives and audiences alike.”The judge ruled that Paramount and Warner Bros.Discovery are “temporarily enjoined and restrained from closing or consummating the transaction or taking any steps, directly or indirectly, to integrate or consolidate their operations pursuant to the transaction.” Hollywood Inc.

The letter was signed by nearly 1,000 artists and movie creators, including Ben Stiller, Bryan Cranston, Noah Wyle, Joaquin Phoenix, Kristen Stewart and Jane Fonda.The order extends to all officers, attorneys, and “other persons who are in active concert or participation with Defendants,”...