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Paramount-Warner Bros deal paused through August 17, judge rules
['Jody Godoy', 'July', 'Min Read']
Yahoo Finance
By Jody GodoyJuly 23 (Reuters) - Paramount Skydance must pause its $110 billion acquisition of Warner Bros.
The move gives Paramount Skydance more time to argue against a potential months-long pause while the case plays out.
The Writers Guild of America has filed a separate lawsuit alleging the deal would decrease demand for screenwriting work.
U.S. District Judge Araceli Martínez-Olguín in Oakland, California, previously paused the deal through August 3, when she would have held a hearing on whether to postpone the deal's closing for longer.
Paramount has asked for a three-day hearing in August where it can present evidence the deal bolsters competition before the judge decides on a longer pause.