00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Paramount Skydance shares hit a new 52-week low Monday
00:06after a federal judge temporarily blocked its merger with Warner Bros. Discovery,
00:11according to The Washington Post.
00:13The ruling followed an antitrust lawsuit filed by 12 states,
00:18which argue the deal would concentrate control over movie studios,
00:22television news networks, and streaming services.
00:24The restraining order pauses the merger for 14 days,
00:28with another court hearing scheduled for August 3rd.
00:31Paramount Skydance said the state's claims lack merit and vowed to defend the transaction.
00:36Delays could trigger payments to Warner Bros. Discovery shareholders beginning September 30th.
00:42The merger also faces legal challenges from the Writers Guild of America
00:46and shareholders in a lawsuit involving Trump.
00:48Paramount Skydance shares fell 0.5% to $8.70,
00:53while Warner Bros. Discovery stock dropped 3.3% to $25 at $98.
00:59For all things money, visit Benzinga.com.
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