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As one of Hollywood's most important deals in recent years, the merger and acquisition deal between Paramount Sky Dance Company and Warner Bros. Exploration recently experienced a new transformation — in the face of class action lawsuits in 12 US states, Paramount agreed to postpone the deal until after the antitrust trial. On the 13th of this month, California and 12 other US states filed lawsuits in the Northern District Court of California to block mergers and acquisitions of about 111 billion US dollars between Paramount and Warner Bros. Opponents believe that if completed, this deal will reduce competition in the cable TV and cinema markets. California Attorney General Rob Bonta said that the merger of these two entertainment giants will weaken reasonable competition in the US film and television industry and harm consumers' interests. New York Attorney General Leticia James believes that blocking this merger is a “critical victory” for upholding the law and protecting the film and television industry. Faced with judicial pressure from multiple states, Paramount chose to compromise. On the 24th, the company announced that it had reached an agreement with the Union of State Attorneys General to postpone its merger with Warner Bros. until after the antitrust trial. Although no date has yet been set for the trial, it is expected that the entire merger process will be suspended for at least a few months according to the agreement.
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As one of Hollywood's most important deals in recent years, the merger and acquisition deal between Paramount Sky Dance Company and Warner Bros. Exploration recently experienced a new transformation — in the face of class action lawsuits in 12 US states, Paramount agreed to postpone the deal until after the antitrust trial. On the 13th of this month, California and 12 other US states filed lawsuits in the Northern District Court of California to block mergers and acquisitions of about 111 billion US dollars between Paramount and Warner Bros. Opponents believe that if completed, this deal will reduce competition in the cable TV and cinema markets. California Attorney General Rob Bonta said that the merger of these two entertainment giants will weaken reasonable competition in the US film and television industry and harm consumers' interests. New York Attorney General Leticia James believes that blocking this merger is a “critical victory” for upholding the law and protecting the film and television industry. Faced with judicial pressure from multiple states, Paramount chose to compromise. On the 24th, the company announced that it had reached an agreement with the Union of State Attorneys General to postpone its merger with Warner Bros. until after the antitrust trial. Although no date has yet been set for the trial, it is expected that the entire merger process will be suspended for at least a few months according to the agreement.
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