Twelve US states sue to block Paramount's $110bn Warner Bros acquisition

A coalition of 12 US states has filed a lawsuit to stop Paramount's $110bn acquisition of Warner Bros Discovery, alleging it would harm competition in film and television markets.

• California Attorney General Rob Bonta announced the lawsuit, alleging the merger would cause "substantial harm on movie theaters, basic cable distributors and, ultimately, audiences nationwide."
• If completed, the combined company would control 27 percent of US basic cable TV licensing and 75 percent of wide-release theatrical film distribution, the states said.
• The states asked Paramount to delay closing the deal until legal proceedings conclude and said they will seek a court order if the company does not comply.
• The deal cleared US Department of Justice regulatory hurdles last month, and Paramount has committed to paying $650m in quarterly fees to Warner Bros shareholders if the deal does not close by October.