A not-so-done deal

Pick up where we left off in June. As is so often the case, this story in the New York Times is less of interest for the facts, which have been reported earlier and in greater depth by other news organizations such as NPR, Reuters, CNBC, Variety, The Hollywood Reporter, and others, than it is for what it tells us about the standard narrative. States Prepare Lawsuit to Block Paramount’s Merger With Warner Bros.David McCabe, Benjamin Mullin, Lauren Hirsch July 12, 2026A group of states are preparing to file a lawsuit to block Paramount’s acquisition of Warner Bros. Discovery as soon as this week, according to four people briefed on the plans, a legal challenge that would create a major obstacle for one of the biggest media mergers in history.A draft of the lawsuit currently circulating argues that the $111 billion deal would harm competition in the market for so-called tent pole films, the expensive blockbusters that make up a large portion of studio revenues, among other claims, two of…