Federal Judge Hits Pause on Paramount–WBD Merger as Ticking-Fee Deadline Approaches

Judge Araceli Martínez-Olguín imposed a 14-day temporary restraining order on the Paramount–Warner Bros. Discovery merger, finding states likely to prove it violates antitrust law. A preliminary injunction hearing is set for August 3rd. If the deal hasn't closed by September 30th, Paramount owes WBD investors millions in ticking fees — daily penalties that make each delay costlier.