A U.S. federal judge suspended Paramount's planned $110 billion acquisition of Warner Bros. Discovery on Monday, issuing a 14-day restraining order that halts one of the largest media mergers in history.
Judge Araceli Martínez-Olguín signed the order following a lawsuit led by California Attorney General Rob Bonta and 11 other states, who argued the deal raises serious antitrust concerns. The proposed merger would combine film studios, cable networks including CBS, CNN, TNT, MTV and BET, and streaming services Paramount+ and HBO Max, controlling roughly a third of theatrical distribution and cable programming.
A hearing on August 3 will determine whether to extend the block indefinitely. The restraining order can be prolonged to 28 days. Paramount had reportedly offered to delay the deal until mid-August to avoid litigation, but the federal government approved the acquisition in June without conditions.