Paramount Skydance, Warner Bros fall after judge orders pause of deal
PSKY•Shares fall after judge pauses deal
- Shares of Paramount Skydance (PSKY.O) fell 2% to $8.57 and Warner Bros Discovery (WBD.O) were down 1.4% at $26.50 in afternoon trading.
- A coalition of states won a pause of PSKY's $110 billion acquisition of WBD on Monday, following their argument that the merger would irreparably harm competition.
- California and 11 other states sued to block the deal on July 13.
- The Writers Guild of America also sued to block the deal last week.
- PSKY and WBD both fell nearly 35% and 7%, respectively, this year.
