1 of 2 | A hearing in a lawsuit seeking to block the merger of Warner Bros. and Paramount is scheduled for Aug. 3. File Photo by Jim Ruymen/UPI | License Photo
Twelve state attorneys general won a court order on Monday to halt Paramount’s merger with Warner Bros. for at least 14 days.
U.S. District Judge Araceli Martinez-Olguin in the Northern District of California granted a temporary restraining order to a coalition of 12 states, including New York and California, in their lawsuit to block Paramount’s purchase of Warner Bros.
A hearing in the case is scheduled for Aug. 3
The states are suing Paramount Skydance alleging that the merger violates antitrust laws.
Martinez-Olguin wrote in her ruling that the lawsuit “presented compelling evidence that the combined firm resulting from the transaction will possess substantial market share in the wide-release theatrical distribution market.”
“On this combined firm market share alone, the Court is persuaded that it can presume the proposed merger is likely to violate antitrust laws,” the ruling reads. “Paramount and Warner Bros. will continue to operate as separate, viable companies competing in the marketplace while they wait for the Court to adjudicate this case.”
New York Attorney General Letitia James called the order an “important victory for all those who would be hurt by this merger.”
“This lawsuit is about a simple fact: when one company controls a massive share of our film and television industries, workers, artists, businesses and consumers suffer,” James said in a statement. “Paramount’s unlawful merger with Warner Bros. would mean more expensive theater tickets, higher cable bills, fewer opportunities for workers, and fewer original stories shared with audiences across the country.”
Historic July moments through the years
Astronaut Buzz Aldrin walks on the surface of the Moon during the Apollo 11 mission on July 20, 1969. Photo by NASA/UPI | License Photo
