A federal judge issued a 14-day restraining order halting the $110 billion Paramount-Warner Bros Discovery merger after a dozen states argued it would violate antitrust laws. The pause prevents immediate irreversible actions and sets an August 3 hearing on a preliminary injunction while exposing Paramount to millions in daily penalties if the deal misses its September 30 deadline.
She ruled that based on the new company's market share the court can presume the proposed merger is likely to violate antitrust laws.
If the deal has not closed by September 30, Paramount will owe Warner Bros Discovery investors millions of dollars per day based on the length of the delay.
Tap a lens to see what this story means for you.
Liked this? The Brief brings you the whole day in tech, verified, every morning.
Two minutes, free forever. What's in The Brief →
See what’s happening right now
The Feed runs all day — short, verified briefs the moment they break.
Open the FeedFollow @thecircuitry_
Every story we publish, as it happens. No noise between.
Reader-supported
The Circuitry is a passion project I've always wanted to build, and I love the work behind it.
Running it costs real money. APIs, hosting, time. To keep improving the site and growing this into something useful for everyone, those costs have to be covered.
Any contribution is appreciated. If not, no pressure. Thanks for reading.
A dozen state attorneys general filed an antitrust lawsuit to halt Paramount's acquisition of Warner Bros. Discovery one month after Department of Justice approval, alleging the $110 billion deal would lessen competition in theatrical film distribution and basic cable licensing.
A $110 billion media merger closed Tuesday while Elon Musk regains trillionaire status and former AI researchers issue safety warnings. Investors are watching these developments as markets open higher.
Tamarack Valley and Headwater Exploration have agreed to merge in an all-stock deal valued at C$10 billion ($7.25 billion) that will create the largest publicly traded oil producer focused on Alberta's Clearwater Formation. The transaction includes a dividend increase, updated growth targets, leadership changes and the spin-off of non-core assets into a new public company.
The UK government will put £100m into a new AI Biosecurity Lab, which the Cabinet Office calls the world's first dedicated AI biosecurity organisation. OpenAI and Anthropic will add up to £200m in model credits, access and technical support rather than cash. The independent non-profit will initially focus on spotting biological threats early and speeding up vaccines and treatments, as part of a roughly £600m AI package, most of it on security, set out before Wednesday's Budget.
Meta has acquired Sundial, an AI-powered data analytics platform co-founded by former Meta executives Julie Zhuo and Chandra Narayanan, a Meta spokesperson confirmed to Axios. Sundial will be folded into Meta's new data analytics unit and will stop serving outside customers once the deal closes. Terms were not disclosed.
