Paramount-Warner Bros. Stalled

U.S. District Judge Araceli Martínez-Olguín issued a temporary restraining order barring Paramount Skydance and Warner Bros. Discovery from closing their roughly $110 billion merger for 14 days. The order gives a coalition of 12 states, led by California, more time to press an antitrust suit seeking to block the deal. The states allege the combination would reduce competition in film, cable and streaming markets, raise consumer prices and consolidate control in Hollywood. A hearing on whether to extend the pause through a preliminary injunction is set for Aug. 3.