Paramount Skydance delays acquisition of Warner Bros. Discovery until June 2027 due to antitrust lawsuit, increasing deal price potentially by $1.7 billion, with a $7 billion breakup fee if the deal collapses.
New York City Mayor Zohran Mamdani has appointed former FTC chair Lina Khan to lead the board of the NYC Economic Development Corporation (EDC), alongside Anthony Shorris as president and CEO. Mamdani aims to combine urban business growth with his progressive affordability agenda, emphasizing economic development and justice.
A U.S. District Judge has issued a 14-day pause on the proposed acquisition of Warner Bros. Discovery by Paramount Skydance, following a lawsuit from 12 state attorneys general led by California's Rob Bonta. The lawsuit alleges the merger would harm competition in film distribution and cable licensing, a claim Paramount disputes.
Paramount's lead counsel Jeffrey Kessler stated the company still aims to close its acquisition of Warner Bros. Discovery by September, despite a recent antitrust lawsuit filed by state attorneys general. Paramount is prepared to take the case to the Supreme Court if necessary, arguing the merger is pro-competitive.
The Walt Disney Company has agreed to pay $50 million to settle a class-action antitrust lawsuit. The suit alleged Disney inflated live TV streaming prices by forcing services like YouTube TV and DirecTV Stream to bundle ESPN, creating an artificial price floor. Millions of subscribers from 2019-2026 may be eligible for payouts.
California AG Rob Bonta's 2022 antitrust lawsuit against Amazon alleges the e-commerce giant pressured vendors to fix or raise prices on competitor websites, including an alleged agreement with Levi Strauss and Walmart on khaki pants priced at $29.99. The trial is scheduled for next year, with a preliminary injunction hearing set for July.
