US judge pauses Paramount Skydance $110B Warner Bros. Discovery deal

Merger faces $7 million daily penalty

If this merger isn't wrapped up by September 30, both companies will owe Warner Bros. Discovery shareholders $7 million for every day it's delayed, ouch.
Investors are already nervous; Warner Bros. Discovery shares dropped 4% after the ruling.
The next big moment is an August 3 court hearing that'll decide what happens next with this blockbuster deal.