Investing.com -- Paramount said Friday it agreed to halt its $111 billion merger with Warner Bros. The proposed merger would combine two major movie studios, the streaming services HBO Max and Paramount+, and networks including CBS and CNN. David Ellison, who runs Paramount, has pushed to acquire Warner Bros. and outbid Netflix after proposing several escalating offers. On July 13, Colorado joined 12 other state attorneys general in filing a lawsuit challenging the merger. Related articlesParamount delays Warner Bros. merger until June amid lawsuitUber under pressure: Waymo partnership on the brinkTrump says U.S. to launch trade probe into EU fines of tech firms