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 federal judge in California issued a temporary restraining order, blocking the $111 billion merger between Paramount Skydance and Warner Bros. Discovery. The ruling, a win for 12 states led by California, cites concerns that the deal would substantially lessen competition in the theatrical film and cable TV markets.
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.
12 Democratic state attorneys general have filed a lawsuit to block the $111bn merger between Paramount Skydance and Warner Bros Discovery, citing antitrust violations that could reduce competition and increase consumer prices in the film and cable television industries.
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 drivers have filed a proposed class action lawsuit against major gas station operators including BP, Circle K, and Walmart, accusing them of using AI to artificially inflate gasoline prices. The suit alleges violations of California's antitrust law and a recent bill targeting algorithmic price fixing, claiming prices have risen significantly in areas where the AI tool is used.
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.
