Market Chatter: Paramount-Warner Bros Deal Faces 60-Day Pause Request From Oregon Attorney-General

MT Newswires Live

Jul 08

Paramount's (PSKY) $110 billion bid to acquire Warner Bros (WBD) is facing a new hurdle after Oregon Attorney General Dan Rayfield said he will ask a local court to pause the merger for 60 days, Reuters reported Tuesday.

Rayfield said the company withheld records tied to its lobbying efforts and will petition a Multnomah County court to order Paramount to turn over those records, according to the report.

A Paramount spokesperson said, as per the report, the information sought by Oregon is unrelated to antitrust compliance and "not a legitimate basis" to delay the transaction.

Paramount and Warner Bros did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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