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International Business Times

Business

Warner Bros. Discovery's Acquisition By Paramount Has Been Halted Its Shares Dropped

Paramount United States Araceli MartinezOlguin Warner Bros Discovery Entertainment

Paramount's acquisition of Warner Bros. Discovery has been paused until early August.

Paramount is facing a new setback in its intended acquisition of Warner Bros. Discovery: a judge has paused it until early august in the context of a legal case brought forward by several states.

Concretely, U.S. District Judge Araceli Martinez-Olguin in Oakland said the states made a "strong showing" that the acquisition would amount to an unlawful decrease in competition. Warner Bros. Discover's stock fell as much as 4% on Monday before pairing some gains.

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