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Paramount Skydance ordered to pause Warner Bros acquisition through August 3
['Jody Godoy', 'Dawn Chmielewski', 'Min Read']
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By Jody Godoy and Dawn ChmielewskiJuly 20 (Reuters) - Paramount Skydance must pause its $110 billion acquisition of Warner Bros.
Discovery through August 3, a federal judge ruled on Monday after a California-led coalition of states argued the merger would irreparably harm competition.
Warner Bros.
A prolonged interruption could hurt Paramount Skydance financially.
For each calendar day the merger is delayed past September 30, Ellison would be on the hook to pay Warner Bros. shareholders a 25-cent-per-share "ticking fee," or about $7 million a day, according to the merger agreement.