Warner Bros

A federal judge on Monday ordered Paramount and Warner Bros Discovery to halt their USD 81 billion merger for at least two weeks, allowing states that are challenging the deal more time to see their case through in court. Twelve states, led by California, sued to block Paramount's pending buyout of Warner last week - alleging that such a combination would "extinguish competition" in Hollywood and lead to fewer choices for consumers, particularly moviegoers and cable customers across the US. The states' top prosecutors called on Warner and Paramount to not close the transaction until after a court had time to "fully evaluate" their claims. And when the companies refused, they filed for a temporary restraining order - which is what District Judge Araceli Martinez-Olguin granted on Monday. That opens the door to a potential preliminary injunction that the states are also seeking to effectively block the deal.

Oregon's AG has withdrawn a court motion seeking to delay Paramount's $110 bn acquisition of Warner Bros, saying the state is considering its next steps after a dispute over access to company records

DOJ said it reviewed more than 2 million documents obtained from 80 sources in evaluating the deal's impact on various segments of the entertainment industry

Most of the states that have been weighing the lawsuit are led by Democratic attorneys general although at least two Republican attorney generals are involved in the probe

The Department of Justice staff attorneys seemed swayed by arguments from top Paramount executives that the deal would not hurt other studios and creative talent

Shares of the streaming giant rose 1.5 per cent in premarket trading

The merger would combine major studios and networks such as CNN and CBS, enabling them to compete more aggressively as streaming draws audiences away from traditional linear TV

Netflix and YouTube have sat comfortably in the lead, competing head to head for the biggest share of viewing time in living rooms around the world

Takeover likely to get FCC backing

The dramatic turnaround positions Paramount to acquire Warner Bros in a $110 billion deal, making the Ellison family owners of one of the world's largest entertainment empires

Netflix is declining to raise its offer to buy Warner Bros Discovery's studio and streaming business, in a stunning move that effectively puts Paramount in a position to take over the fellow storied Hollywood giant. On Thursday, after Warner's board announced that Skydance-owned Paramount's offer was superior to the agreement it had previously struck with Netflix, the streaming giant said that at the price that would be required to buy Warner, a deal was "no longer financially attractive." Unlike Netflix's bid, Paramount wants all of Warner's operations, including networks like CNN and Discovery. That would put CNN under the same roof as Paramount's CBS and combine two of Hollywood's last five remaining studios. Warner Bros Discovery has determined that Paramount's latest takeover offer is superior to the streaming and studio agreement it struck with Netflix, marking a stark shift in momentum in the fight for the storied Hollywood giant. The owner of HBO Max, DC Studios and popular

The fight for Warner Bros. is one of the biggest media deals in years and whichever company wins, it will likely have great influence on the entertainment industry going forward

DOJ broadens review of Netflix's $72 billion Warner deal, probing potential monopoly power and leverage over filmmakers under US antitrust laws

Although the chief focus of the review is likely to be Netflix Inc.'s dominance in the streaming business, the release of Warner Bros. films in theaters has become a concern as well

Warner Bros Discovery is briefly reopening takeover talks with Skydance-owned Paramount to hear the company's "best and final" offer, while the Hollywood giant continues to back the studio and streaming deal it struck with Netflix. In a Tuesday regulatory filing, Warner said it had received a waiver from Netflix to reopen talks with Paramount for the next seven days, or until Monday. Warner said this will allow the companies to discuss unresolved "deficiencies" and "clarify certain terms" of Paramount's latest bid. But in the meantime, Warner's board is still recommending shareholders support of its proposed merger with Netflix. A special meeting is now scheduled for Friday, March 20 to hold a vote on that deal. In a statement, Netflix said it was confident that its proposed transaction "provides superior value and certainty" - but recognised "the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY's antics." The streaming giant noted it ha

Paramount informally broached an even higher per-share price of $31, Warner Bros said, apparently enticing the board to the table

Paramount has revised its offer, agreeing to cover the $2.8 bn Netflix breakup fee and backstop Warner Bros' debt refinancing to ease board concerns

It did not raise its overall offer of $30 per share, or $108.4 billion including debt, for the whole of Warner Bros including cable assets

The battle between Netflix and Paramount over Warner Bros. has grown acrimonious and drawn scrutiny, regardless of which bidder succeeds, setting up a major antitrust test for the Trump administration

The new all-cash bid - at $27.75 a share - has unanimous support from the HBO owner's board, according to a Tuesday regulatory filing