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Bid to Block Paramount-Warner Bros. Discovery Filed to Supreme Court
The Hollywood Reporter • • general
Key Points:
- Paramount subscribers have filed an emergency bid with the Supreme Court to halt Paramount's $110 billion merger with Warner Bros. Discovery until their antitrust case is reviewed, with the merger scheduled to close Tuesday.
- The subscribers argue that a recent settlement approved by a district judge fails to preserve competition between Paramount and Warner Bros., particularly in streaming, news, and theatrical distribution markets.
- The settlement requires minimum film releases and separate cable negotiations but does not address concerns over potential market dominance, and subscribers claim the court ignored existing evidence supporting their request for a temporary restraining order.
- Previously, a district court had temporarily blocked the merger due to concerns about Paramount's projected 27% market share in theatrical distribution, indicating a likely antitrust violation.
- For the merger to be stopped now, the Supreme Court would need to issue an immediate order preventing Paramount from closing the deal.
