Federal Judge Pauses Paramount Skydance's $110B Warner Bros. Discovery Acquisition

U.S. District Judge Araceli Martínez-Olguín issued a 14-day temporary restraining order on July 20, 2026, pausing Paramount Skydance Corporation's proposed $110 billion acquisition of Warner Bros. Discovery. The order follows a lawsuit by 12 state attorneys general led by California's Rob Bonta, who allege the merger would lessen competition in theatrical film distribution and basic cable licensing. The DOJ closed its investigation without challenge in June.