Attorney General Tong joined a coalition of 12 attorneys general in filing a lawsuit to block the proposed $110 billion merger of Warner Bros. Discovery and Paramount Skydance, alleging it violates Section 7 of the Clayton Act. The court granted a temporary restraining order halting the merger while it considers a preliminary injunction.
The court granted a temporary restraining order halting the merger while it considers a preliminary injunction.
In-house legal teams should review their contracts for change-of-control provisions, assignment clauses, and termination rights. Given the antitrust scrutiny of this merger, companies should ensure their agreements include robust antitrust compliance representations and warranties, and consider whether any exclusivity or non-compete clauses could be affected by a merger. Additionally, they should review any provisions that require consent from counterparties upon a change of control, as such provisions may be triggered by a merger and could impact the transaction.
Entity
Paramount Skydance Corporation
Industry
Media & Entertainment"the merger of Warner Bros. Discovery, Inc. (Warner Bros.) by Paramount Skydance Corporation (Paramount)"
"violates Section 7 of the Clayton Act"
"The temporary restraining order halts the merger while the court considers a ruling on a preliminary injunction"
Colorado Attorney General Phil Weiser announced that a stipulation filed in federal court stops Paramount and Warner Bros. from merging until the court rules on the merits or until June 1, 2027, whichever comes first. The action stems from a lawsuit filed by a coalition of a dozen state attorneys general challenging the proposed $110 billion acquisition of Warner Bros. Discovery, Inc. by Paramount Skydance Corporation. A prior temporary restraining order had already halted the merger for 14 days.
A coalition of 12 state attorneys general, led by Colorado AG Phil Weiser, obtained a temporary restraining order from a federal court in California to halt the proposed $110 billion merger of Warner Bros. Discovery, Inc. by Paramount Skydance Corporation. The lawsuit alleges the merger violates Section 7 of the Clayton Act by substantially lessening competition in film distribution, anticipated blockbuster film distribution, and licensing cable TV channels.
Oregon Attorney General Dan Rayfield secured a temporary restraining order blocking Paramount Skydance Corporation's proposed $110 billion acquisition of Warner Bros. Discovery. The lawsuit, joined by 11 other state attorneys general, alleges the merger would harm Oregonians through higher prices, lower content quality, and reduced competition in film and television distribution.
Oregon Attorney General Rayfield and a coalition of 11 other attorneys general filed a motion for a temporary restraining order and preliminary injunction to block the $110 billion acquisition of Warner Bros. Discovery, Inc. by Paramount Skydance Corporation. The lawsuit alleges the merger violates Section 7 of the Clayton Act by substantially lessening competition in theatrical film distribution and basic cable television licensing, which would lead to higher prices and reduced content quality for consumers.
Oregon Attorney General Dan Rayfield and a coalition of 12 state attorneys general filed a lawsuit challenging the $110 billion acquisition of Warner Bros. Discovery by Paramount Skydance Corporation. The lawsuit alleges the merger violates Section 7 of the Clayton Act by substantially lessening competition in theatrical film distribution and basic cable television licensing, which could lead to higher prices and reduced choice for consumers.
Attorney General William Tong joined a coalition of 12 attorneys general in suing to block the $110 billion acquisition of Warner Bros. Discovery, Inc. by Paramount Skydance Corporation. The lawsuit alleges the merger violates Section 7 of the Clayton Act by substantially lessening competition in theatrical film distribution and basic cable television licensing, which would harm consumers through higher prices and reduced quality.