A federal judge in California issued a temporary restraining order on Monday, freezing the planned merger between Paramount and Warner Bros. The order came after a coalition of 12 states argued the deal violates federal antitrust law and could raise prices and reduce content. The court issued a 14-day halt after hearing arguments on Friday; Paramount had previously committed not to close before July 22.
The planned merger of Hollywood giants Paramount and Warner Bros hit a new obstacle Monday when a federal judge in California issued a temporary restraining order blocking the deal. The ruling, reported by Amit Atias (N12), came in response to a lawsuit by 12 states alleging the merger would violate antitrust law, leading to higher prices and fewer film and TV productions. The court imposed a 14-day halt after hearing arguments on Friday. Paramount had previously committed not to complete the transaction before July 22.
As The Zioneer reported on June 13, the US Justice Department had cleared the merger without conditions. The states' action introduces a fresh regulatory hurdle for what would be the largest media merger in history.
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