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Paramount has suspended its pursuit of Warner Bros Discovery following an antitrust lawsuit filed by 12 US states, which argue the merger would harm cinema competition and reduce market choice in film distribution.
A US federal judge has ordered Paramount Skydance to pause its $110 billion acquisition of Warner Bros. Discovery until August 3, backing state arguments that the merger would harm media industry competition and consumer choice.
Twelve US states led by California have sued to block Paramount's $110 billion acquisition of Warner Bros Discovery, arguing the deal would create a media giant capable of raising prices for consumers and harming competition in film distribution and cable channels.