Paramount, Warner Bros. bosses fear judge will block $110B deal in coming days: report

Key Points:

• Paramount and Warner Bros. Discovery face a likely temporary restraining order (TRO) requested by 12 Democratic state attorneys general over antitrust concerns, potentially delaying their $110 billion merger by weeks.
• The TRO, expected to be granted, could push the deal past a critical September deadline, triggering costly fees and prolonging uncertainty over CNN's ownership amid staff worries about editorial independence.
• The merger, combining major streaming services and media assets, is accused of creating a near one-third share of the US theatrical film distribution and basic cable markets, raising fears of higher prices and harm to the movie theater industry.
• Despite legal challenges including lawsuits from consumers, the Writers Guild, and investors alleging improper approval deals, Paramount remains confident the merger will close by September and is prepared to appeal any court blocks up to the Supreme Court.
• Federal regulators have largely approved the deal, though opposition continues domestically and abroad, with a California judge set to hear the TRO request on Friday.