Devesh Ray

Last month, the Justice Department cleared the merger between two giants of the entertainment industry, with Paramount agreeing to pay $110 billion to take over Warner Bros. Discovery. The Antitrust Division ostensibly looked at the markets for streaming, cable, and movie studios, and evidently felt the merger would not generate anticompetitive effects. That sentiment was not shared, however, by the twelve states that sued to block the merger days later.