A federal judge has granted a bid from a coalition of 12 states to temporarily stop Paramount from closing its $110 billion takeover of Warner Bros. Discovery.
U.S. District Judge Araceli Martínez-Olguín on Monday issued a temporary restraining order after the states sued last week. The emergency motion sought to prevent the studio from moving ahead with the merger for 14 days.
“Because the Plaintiff States raise serious questions on the merits of their Clayton Act claim and because the balance of equities and public interest tip sharply in favor of the Plaintiff States, the Court ultimately finds the public interest favors their requested TRO to stay the merger in the interim,” Martínez-Olguín wrote in the order.
More to come.
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