Paramount's $110 Billion Warner Bros. Deal Faces Major Blow As 12 States Sue — Mamdani Says He's 'Proud,' Warren Declares 'This Fight Isn't Over'

Benzinga_recent_news07-14 11:37

California, New York, Arizona, Minnesota and nine other states filed a lawsuit in federal court in Oakland, arguing that combining Paramount and Warner Bros. Discovery would create a media giant with ...

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Deal Faces Major Blow As 12 States Sue — Mamdani Says He's 'Proud,' Warren Declares 'This Fight Isn't Over'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-14 11:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/legal/26/07/60432319/paramounts-110-billion-warner-bros-deal-faces-major-blow-as-12-states-sue><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>California, New York, Arizona, Minnesota and nine other states filed a lawsuit in federal court in Oakland, arguing that combining Paramount and Warner Bros. 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Discovery deal, arguing it would reduce competition and raise prices.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PGRE":"Paramount Group","BK4194":"办公房地产投资信托","BK4223":"办公室房地产信托"},"translate_title":"派拉蒙 1100 亿美元华纳兄弟交易面临重大打击，12 个州提起诉讼——马姆达尼说他“感到自豪”，沃伦宣称“这场战斗还没有结束”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PGRE":1.5},"content_text":"California, New York, Arizona, Minnesota and nine other states filed a lawsuit in federal court in Oakland, arguing that combining Paramount and Warner Bros. Discovery would create a media giant with excessive market power.\nAccording to the complaint, the merged company would control about 27% of theatrical film distribution, 30% of blockbuster movie distribution and 27% of the U.S. basic cable market.\nThe states argue that reduced competition could translate into higher prices for moviegoers, cable and streaming customers while limiting choices for consumers.\nThe lawsuit also contends that the merger could hurt theaters, television distributors and entertainment workers, including writers, actors and production crews.\nThe states, however, argued that the commitment is unenforceable and would not prevent the company from raising prices or reducing quality after the merger.\nParamount and Warner Bros. Discovery did not immediately respond to Benzinga’s request for comments.\nNew York City Mayor Zohran Mamdani (D-N.Y.) welcomed the legal challenge, writing on X that he was “proud” New York joined the lawsuit.\nHe argued the merger does not serve the public and warned it could “raise prices for streaming and cable, endanger the livelihoods of thousands of New York artists and entertainment workers, and threaten to shutter theaters across our city.”\nNew York Attorney General Letitia James said the merger would create “a massive company with unprecedented power and influence,” while California Attorney General Rob Bonta said it would lead to “higher prices, lower quality, and less film and television content.”\nSen. Elizabeth Warren (D-Mass.) also endorsed the lawsuit, calling the proposed transaction an “antitrust nightmare” and adding, “Good news: the states are stepping up to BLOCK this antitrust nightmare. This fight isn’t over.”\nThe legal challenge could delay the merger for months, potentially increasing costs for Paramount as the case moves through federal court.\nPrice Action: Shares of Paramount closed 1.49% higher at $9.55 on Monday, while Warner Bros. gained 1.88% to close at $27.09, according to Benzinga Pro.\nAccording to Benzinga Edge Stock Rankings, Paramount shares remain in a negative trend across the short, medium and long term.\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto Courtesy: Ron Adar on Shutterstock.com\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2651121996","isCrawlerRequest":true}