The biggest merger in modern Hollywood history once looked like a done deal. It’s suddenly facing a serious legal challenge from a group of state attorneys general.

A court issued a temporary restraining order freezing the deal for a short period. Next, it will consider whether to issue a preliminary injunction, which will prevent Paramount…

California and eleven states secured a pause on Paramount's acquisition of Warner Bros. Discovery. They argued the massive media merger would harm competition and raise prices. …