Paramount Skydance Wins Round in Warner Bros. Deal Challenge

MT Newswires Live07-17

Paramount Skydance's (PSKY) $110 billion acquisition of Warner Bros. Discovery (WBD) survived a bid by streaming video consumers to temporarily block the deal, after a federal judge denied the request, Bloomberg News reported Thursday.

US District Judge Araceli Martinez-Olguin said the plaintiffs failed to submit evidence supporting the request during a hearing in Oakland, California, according to the report.

Martinez-Olguin also raised doubts about the consumers' standing to pursue antitrust claims, saying there was no coherent connection between the companies' alleged acts and the plaintiffs' alleged injuries, the report said, adding that she did not rule on the companies' motion to dismiss the case.

The consumer lawsuit, filed in April, also seeks to unwind the 2025 merger between Skydance Media and Paramount Global, the report added.

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