Paramount’s attempt to acquire Warner Bros. Discovery has hit another snag. After a dozen states sued to block the purchase from happening, a judge in California has given the states a small win in their efforts.
On Monday, U.S. District Judge Araceli Martínez-Olguín of the Northern District of California issued a temporary restraining order on the merger. The restraining order comes as the states argue that this merger between the two media companies would harm competition in the market.
A Two-Week Pause
Martínez-Olguín’s ruling for a restraining order will be in effect for 14 days, preventing any possible closing of the acquisition. A hearing is currently scheduled for August 3 for the States’ request for a preliminary injunction, which could see the purchase be placed on an indefinite hold while court proceedings move forward.
In the lawsuit filed on July 13, California Attorney General Rob Bonta said that this deal would “extinguish competition.”
“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,” Bonta said via release. “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. We have a full tank of gas, the law on our side, and look forward to continuing to make our case.”
Paramount is attempting to purchase Warner Bros. Discovery, including Warner Bros. Games, for $111 billion. In June, the United States Department of Justice approved the deal.
What do you think of the temporary pause on Paramount’s purchase of Warner Bros. Discovery? Leave your thoughts in the comments below, or join the discussion in the official Insider Gaming Discord.
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Mike has been covering the gaming industry since 2012, and has reported on some of the largest events in the industry while also working as an investigative reporter. Outside of…
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Literally BS. Disney and Fox were both way bigger yet faced not scrutiny and worse Disney went on to then buy Hulu and most of Fubo only to shut Fubo up over their Venu deal. There are literally 3 big music companies UMG, Warner, and Sony no pushback on those. Viacom buying Paramount no issue, Viacom merging back with CBS no issue, Disney Fox, Coke Colombia, AT&T TimeWarner, NBCUniversal Comcast, Sony Colombia, MGM is 3 companies, 20th Century Fox also a merged company, none of them had any issue only now it’s an issue. Paramount WBD would still be smaller than Disney so no it’s not a monopoly as the left lies and claims it is and championed Disney. Lawsuits need to be filed on these politicians and many finally removed. The Microsoft Activision deal should have woken people up they care more about approval ratings no matter who it’s from they think like Californians no different than Hasan Piker and Max Dood super our of touch but want approval and praise. This is antisemitism and islamophobia at the same time all so entitled boomer leftists can complain.