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Paramount has hit the brakes on its Warner Bros acquisition due to state and labor union lawsuits. With a $1.7 billion penalty at stake, the future of the merger is now in legal limbo.

UK regulators have launched an investigation into the massive $110bn merger between Paramount and Warner Bros Discovery, signaling a complex path ahead for the media consolidation deal.

Paramount has settled with 12 state attorneys general to push forward its $111 billion merger with Warner Bros. Discovery, avoiding a costly daily penalty ahead of a September 30 deadline.

Paramount has halted its Warner Bros. merger amid ongoing legal challenges from states and the WGA, risking a $1.7 billion fee if the deal fails to close by next June.