12 states challenge Paramount's takeover of Warner, say merger would 'extinguish competition'

Twelve US states sued to block Paramount's $81 billion takeover of Warner Bros. Discovery on antitrust grounds, arguing the merger would concentrate control over theatrical distribution and cable programming and reduce consumer choice. The lawsuit arrives after federal approval but ahead of an expected Q3 2026 close, and could delay the deal despite Paramount's defence that the combined company would compete better against Netflix and technology giants.

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