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US judge suspends Paramount's acquisition of Warner Bros.
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A federal judge in California on Monday ordered Paramount Skydance and Warner Brothers Discovery to temporarily pause their merger while a case brought by multiple states challenging the deal moves forward.
The combined company -- which came about after Netflix bowed out of the battle to buy Warner Brothers -- would control a sprawling roster of assets, including CNN, Warner Bros. Pictures and the HBO Max streaming service.
Paramount pushed back on the suit's allegations, framing their deal as a boone for competition in the media industry.
"This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry," the Paramount spokesperson said.
The battle over Warner Brothers began last year, when media giants Netflix and Paramount went to war over the famed movie studio and its prized back catalog.