TLDR Tech / Fintech
States Prepare Lawsuit to Block Paramount's Merger With Warner Bros.
Several states are preparing to file a lawsuit to block Paramount's acquisition of Warner Bros. Discovery as soon as this week. The lawsuit claims that the $111 billion deal would harm competition in the market for tentpole films. Paramount says it is prepared to address legitimate antitrust issues and that the merger raises no such concerns. The companies plan to close the deal in the third quarter of this year. Paramount will pay Warner Bros. Discovery's shareholders about $650 million in cash for each quarter the deal doesn't close starting in October.
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