The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

A federal judge temporarily paused Paramount Skydance Corp.’s $110 billion takeover of Warner Bros. Discovery Inc. saying it “likely” violates antitrust law.

US District Judge Araceli Martínez-Olguín in Oakland on Monday ordered the companies to hold off on consummating the deal for 14 days. Paramount and Warner Bros. hoped to close as soon as July 22.California and 11 other states sued to block the Hollywood mega-merger on July 13. The states allege the deal, which seeks to combine two of the five largest studios, would harm competition for film and cable TV distribution.Paramount said it will continue to vigorously defend against the suit.

“We are confident the evidence will demonstrate that the state AGs’ antitrust arguments are without merit as their alleged markets and claims of anticompetitive effects are without any basis in modern market realities,” the company said in a statement. “This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry.”

The judge scheduled an Aug. 3 hearing on whether to extend the hold for longer. The judge will decide whether to pause completion of the deal until after a trial to decide whether it is illegal under federal antitrust law.

On this episode, Carol Massar and Tim Stenovec speak with:
Chris Palmeri, BN Media & Entertainment Team Lead
Dina Esfandiary, Bloomberg Economics Middle East Geoeconomics Lead on 1,000 Days of War and Upheaval That Reshaped the Middle East
Isabelle Lee, Bloomberg News Cross-Asset Reporter on Peptide ‘Wild West’ Pushes Everyday Americans Into Crypto
Avalon Pernell BN Equities Reporter on Martin Shkreli Is Back and Primed to Fight ‘To the Bitter End’

The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. A federal judge temporarily paused Paramount Skydance Corp.&rsquo;s $110 billion takeover of Warner Bros. Discovery Inc. saying it &ldquo;likely&rdquo; violates antitrust law. US District Judge Araceli Mart&iacute;nez-Olgu&iacute;n in Oakland on Monday ordered the companies to hold off on consummating the deal for 14 days. Paramount and Warner Bros. hoped to close as soon as July 22.California and 11 other states sued to block the Hollywood mega-merger on July 13. The states allege the deal, which seeks to combine two of the five largest studios, would harm competition for film and cable TV distribution.Paramount said it will continue to vigorously defend against the suit. &ldquo;We are confident the evidence will demonstrate that the state AGs&rsquo; antitrust arguments are without merit as their alleged markets and claims of anticompetitive effects are without any basis in modern market realities,&rdquo; the company said in a statement. &ldquo;This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry.&rdquo; The judge scheduled an Aug. 3 hearing on whether to extend the hold for longer. The judge will decide whether to pause completion of the deal until after a trial to decide whether it is illegal under federal antitrust law. On this episode, Carol Massar and Tim Stenovec speak with:
<ul>
<li>Chris Palmeri, BN Media &amp; Entertainment Team Lead</li>
<li>Dina Esfandiary, Bloomberg Economics Middle East Geoeconomics Lead on 1,000 Days of War and Upheaval That Reshaped the Middle East</li>
<li>Isabelle Lee, Bloomberg News Cross-Asset Reporter&nbsp;on Peptide &lsquo;Wild West&rsquo; Pushes Everyday Americans Into Crypto</li>
<li>Avalon Pernell BN Equities Reporter on Martin Shkreli Is Back and Primed to Fight &lsquo;To the Bitter End&rsquo;</li>
</ul>

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology. You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET: http://bit.ly/3vTiACF. 

Listen for reporting from the magazine that helps global leaders stay ahead. Hosts Carol Massar and Tim Stenovec cover the changing world of money, power and technology.&nbsp;You can watch and listen to Businessweek LIVE on YouTube, weekdays from 2PM to 5PM ET:&nbsp;<a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.&nbsp;

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Paramount-Warner Bros. Judge Pauses Deal With Serious Issues 

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