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Judge temporarily blocks Paramount-Skydance’s $110 bln Warner Bros Discovery deal
['Jaiveer Shekhawat', 'Min Read']
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Investing.com -- A U.S. judge has temporarily halted Paramount Skydance's proposed $110 billion acquisition of Warner Bros.
Discovery, granting a 14-day temporary restraining order in a lawsuit brought by a coalition of state attorneys general led by California Attorney General Rob Bonta.
The states could seek a preliminary injunction or another temporary restraining order, potentially delaying the transaction beyond Paramount's targeted September closing and exposing the company to additional costs, including a quarterly "ticking fee" payable to Warner Bros.
If the transaction extends beyond Sept. 30, Paramount would owe Warner Bros.
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