Paramount (PSKY) Stock Falls as Judge Blocks $110B Warner Bros. Discovery Merger

A California federal judge issued a 14-day restraining order blocking the $110 billion Paramount-Warner Bros. Discovery merger. A coalition of 12 states led by California filed an antitrust lawsuit on July 13, arguing the deal would create a media giant with power to raise prices. Paramount (PSKY) stock fell on the news.