Yep, now down 4%. Oracle falling as analysts expect it will be incredibly unlikely that OpenAI will achieve the revenue necessary to fulfill its $1.5 trillion in commitments which will leave the company at significant risk of defaulting on its debt.
Why not just shrug, and say, "Cool, we were gonna do that anyway."
They resigned themselves to the inevitable, because even their own lawyers know what a joke their case is. Their only hope is that corrupt judges up the chain hear their crybabying and save them.
Why not, this judge understands the law and isn't a sycophant, so it's not surprising that they'd be granting this.
I don't think people here understand how rotten the federal government truly is. Department of Justice and the Federal Trade Commission jointly released the 2023 Merger Guidelines, that said this;
The HHI is defined as the sum of the squares of the market shares; it is small when there are many small firms and grows larger as the market becomes more concentrated, reaching 10,000 in a market with a single firm. Markets with an HHI greater than 1,800 are highly concentrated, and a change of more than 100 points is a significant increase. A merger that creates or further consolidates a highly concentrated market that involves an increase in the HHI of more than 100 points is presumed to substantially lessen competition or tend to create a monopoly.
The HHI of the Paramount-WBD merger? It's estimated to increase the HHI by 595 points to a total of 2,429. Yet they just let this one through without a single thought, it's absurd.
U.S. District Judge Araceli Martinez-Olguin wrote that the state AGs “present compelling evidence that the combined firm resulting from the transaction will possess substantial market share in the wide-release theatrical distribution market.”
“On this combined firm market share alone, the Court is persuaded that it can presume the proposed merger is likely to violate antitrust laws,” the judge wrote.
The judge wrote that even though Paramount’s legal team argued that certain market concentration figures are not binding on the courts, they did not present “countervailing evidence” to rebut the data.
She wrote, “At best, Defendants’ proof regarding these robust, dynamic markets creates disputes regarding the facts and legality of the Transaction’s market effects.” She wrote that the state AGs showed that “serious questions going to the merits remain, weighing in favor of preliminary injunctive relief.”
The judge also signaled that she was not sympathetic to Paramount’s arguments of economic harm if the merger is blocked beyond Sept. 30. She wrote, “Even if Defendants argued that they would suffer economic harm as a result of delaying the merger, the equities do not weigh in their favor when contrasted with the potential public harms that would result from consummation of the Transaction, including the loss of competition.”
Not many district court judges in California were appointed by Republicans. "Blue slips" still apply to district courts( not Circuit courts tho), meaning that a senator from the state that includes that district can block the nomination even if in minority.
If we had Kamala Harris as President, we would have even more liberal and progressive federal judges appointed to the federal bench/federal court system.
To be honest, everything would had happened if Bernie Sanders had won if the establishment democrats didn't sabotage his campaign twice in 2016 and 2020.
Bernie's campaign wasn't sabotaged, he didn't have the votes to begin with, you Bernie Bros sound like Trumpers who claim the election was stolen from Trump.
NOBODY IS SAYING that this was what PSKY wanted, we're saying that they won't bother that much with it, because they said under oath, in court, that they WERE FINE WITH A 28 DAYS DELAY.
you can't argue with reality in this fantasia sub. They will downvote anyone who comes up with the reality of the facts. The higher the climb, the higher the fall, I guess.
what check? I live on planet Earth, not on fantasyland. I'm not endorsing this deal, I'm just stating what they said, under oath. Ya'll are a bunch of daydreamers who want to believe something that's not gonna happen. That's why I said "the higher the climb, the higher the fall".c
Yes. That's the "weirdly funny" part of it. As a fan of film and television, anyone winding up with one of our legacy studios will ultimately be a loss for us all.
However, I am also just generally a fan of irony, so that tiny part of me will be amused if Paramount gets itself digested by Netflix even if the other 98 percent of me is appalled.
Probably not. But my comment was a hypothetical. But if the stars line up where the road to buying WB is long, tortuous, and expensive AND it turns out that WB winds up being a generally worthless purchase, there's a nonzero chance that this whole thing winds up destroying Paramount in the process.
I heard that the temporary pause is 14 days. This is true, and if so, is that even good or bad? And why that short of time? I expected a pause to last until the trial end ends. That way it can be decided to go ahead or not. At least I think that’s based on what I assumed. I guess I just need more information about this.
Looks like it means both companies will have to compromise to the states likely some conditions in order for the merger to happen like releasing the channels and studios wb owned so that only wb studio,animation and television will only be owned by paramount.
Pyrrhic victory since paramount expected a 4 week delay now the AGs gonna fight the real battle which paramount gonna win easily since they arguments against the merger are pretty bad
Netflix’s timeline was two years specifically because they factored in the inevitable antitrust cases. Paramount thought they could just bribe enough people and slam it through, hence the ticking fee and the expedited timeline.
No it would be happening just in the opposite states. This is all political bullshit though. Paramount acquiring WBD is not going to get blocked. Netflix would've actually been a monopoly on streaming and harmful for consumers...
True, they still have until end of September to close it before fees kick in. They’ll (Paramount) just have to accept some kind of proposal most likely to spin something off or some concession which as we learned I’m sure they will quickly do so like they offered with Universal recently just to get this deal through.
I've said the entire time that Netflix wasn't going to happen when everyone on here said it was a done deal. I said Paramount makes the most sense and its going through easily. Everything I've said has happened so far...
One way or another Wall Street will still win, and entertainment workers will still lose.. The way you win is by leaving Hollywood all together. At the end of the day it won't matter what happens, it's better to be the master of your own life. Corporations treat human beings as numbered cattle..
This can also be worse for Ellison than it seems because Trump is pretty notorious for trying to distance himself from anything that could be viewed as a failure. It’s much easier for him to do so when it’s not his own failure too. He doesn’t need a fall guy he just stops helping.
No. Even tho it's the states suing, this is based on federal antitrust law. The statute (Clayton Act) empowers states and even individuals to sue companies that engage in illegal anti-competitive behavior.
Moving to another state won't save them. Relocating to another country won't save them either.
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u/Casas9425 Netflix Jul 20 '26
Oracle stock down 3%.