California Leads 12-State Bid to Block Paramount's $81 Billion Acquisition of Warner Bros

California leads 12-state bid to freeze Paramount-Warner Bros. Discovery deal, filing a lawsuit that argues the $81 billion mega merger would extinguish competition in Hollywood and harm consumers, as 11 other states also join the challenge against the takeover of Warner Bros. Discovery by Paramount Pictures. The lawsuit claims that the acquisition would reduce consumer choice and increase prices for moviegoers. It is one of the largest antitrust challenges to a media deal in recent history.