Paramount Skydance’s (PSKY) proposed $110 billion takeover of Warner Bros. Discovery (WBD) is facing a major roadblock. A group of 12 states, led by California, has filed an antitrust lawsuit to block one of the biggest media deals in the U.S. The suit, filed in federal court in Northern California, comes weeks after the Department of Justice (DOJ) cleared the merger without conditions.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
California Attorney General Rob Bonta said the deal would hurt moviegoers and cable customers by cutting competition and raising prices. “With this lawsuit, California and our sister states are fighting for free and fair markets, not rigged markets. America has no kings in government or our economy,” Bonta said.
The coalition includes California, Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon, and Washington, all led by Democratic attorneys general.
