A dozen state attorneys general are attempting to prevent a $110 billion merger between Paramount and Warner Bros Discovery, claiming it will hike movie prices and squeeze cable TV distributors. The states argue the deal would create an overwhelming media presence, pocketing more than a quarter of every dollar from theatrical films and basic cable channels.

The move comes after the Justice Department declined to block the merger, reportedly surprising its own staff. Paramount dismisses the lawsuit as based on misrepresentations about competition in Hollywood today, warning that delays could harm both consumers and creative talent.

Complicating matters further is David Ellison’s potential oversight of CNN, son of a key Trump ally. Concerns over possible political influence have arisen following his appointment of Bari Weiss to head the network, which reportedly led to lower ratings.

The stakes are high for Paramount if they can't close by September 30th; they’re paying a hefty $650 million per quarter in “ticking fees” to WBD shareholders for any delays beyond that date.