Paramount has frozen its $110 billion Warner Bros; Discovery acquisition after a federal court ordered a review of the deal; The delay could cost Paramount $7 million a day until a judge rules on the merger’s future

A group of state attorneys general have challenged the merger in a lawsuit, alleging it would drastically reduce competition and harm consumers.

Skydance-owned Paramount has agreed to delay closing its $81 billion buyout of Warner Bros. Discovery well into next year.