Paramount to halt Warner Bros deal

Paramount has agreed to pause its $110 billion acquisition of Warner Bros. Discovery until next June while a legal challenge by California and 11 states proceeds. The delay could result in Paramount owing up to $1.7 billion in fees to Warner Bros. shareholders if the merger is further delayed, with daily fees accruing if the deal does not close by September 30. The lawsuit alleges the deal would create a media giant with increased market power, and recent cases suggest a ruling could take around eight months.

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