A group of US states, including California and New York, are preparing a lawsuit to block the Warner Bros. takeover. by Paramount Skydance for $110 billion. – Reuters found. Warner Bros. Shares they fell by 1.9% after this news. Paramount shares suffered slight losses, falling 7%.
Analysts also believe Paramount has an easier path to gaining approval from U.S. federal antitrust regulators, in part because of its political connections.
Paramount CEO David Ellison's father, billionaire Oracle co-founder Larry Ellison, is a donor to President Donald Trump.
The proposed deal was met with resistance from actors, screenwriters and others in Hollywood who said it could lead to job losses.
The article is being updated
Source: Reuters
