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- Judge delays ruling on California’s bid to freeze Paramount’s $111B ...
A judge on Friday declined to issue a ruling from the bench regarding California’s request for a temporary restraining order freezing Paramount’s planned takeover of Warner Bros. Discovery (WBD) Paramount CEO David Ellison is seeking to acquire WBD in a $111 billion deal that was expected to close during the third quarter of this year, but California Attorney General Rob Bonta is leading a group of 12 state attorneys general who filed a lawsuit challenging the merger. The lawsuit claims the megadeal would "lead to higher prices, lower quality, and less content for film and television, harming movie theaters, basic cable distributors, and ultimately, audiences on every sofa and movie theater seat in the U.S." The lawsuit, filed in the U.S. District for the Northern District of California, claims that the merger violates Section 7 of the Clayton Act, which holds that mergers that may substantially lessen competition or tend to create a monopoly are illegal. PARAMOUNT ADVISERS PUSH FOR CALIFORNIA EXIT AS STATE SUES TO BLOCK WARNER BROS DISCOVERY MERGER: REPORTA TRO hearing on Friday got deep into antitrust law, with Paramount arguing the merger would actually increase competition while the state insists that combining two major Hollywood studios would hurt the industry while giving too much power to the company. District Judge Araceli Martínez-Olguín promised to issue a ruling by July 22. Paramount is seeking to move forward as soon as possible to avoid exorbitant ticking fees, a term for charges that accrue as the merger is delayed. Reporters were prohibited from taking photos or video of the hearing.WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEALThe Justice Department (DOJ) announced last week it has closed its antitrust investigation into Paramount Skydance's proposed acquisition of WBD, concluding the transaction is not likely to harm competition or American consumers.The Antitrust Division said its eight-month review examined more than two million documents and found the deal could strengthen competition across the media and entertainment industry, including in streaming video, traditional television and theatrical film distribution. However, state attorneys general retain independent authority under antitrust laws. Ellison, the son of billionaire Oracle co-founder Larry Ellison, took control of Paramount last year when Skydance Media and Paramount Global completed an $8 billion merger. Adding WBD to his portfolio would make the younger Ellison one of Hollywood’s most powerful people.CALIFORNIA AG BLASTS PARAMOUNT-WBD MERGER AS ‘ILLEGAL,’ SAYS THREAT TO LEAVE STATE IS ‘BLACKMAIL’ EFFORTParamount fired back Monday shortly after the complaint was filed, saying the… [TheTopNews] Read More.21 mins ago - Taylor Farms to Remove Products After Lettuce Is Linked to Cyclospora Cases
The Salinas, Calif., company grows produce in more than 12 states, and in Mexico and Canada. Some Taylor Farms lettuce suspected of causing sickness ended up at Taco Bell. [TheTopNews] Read More.24 mins ago - Oil Prices Rise to Highest Level in a Month as Shipping in the Persian Gulf Near...Shipping traffic was at its lowest level in more than a month and oil prices moved higher as the Iran war continued to disrupt the supply of energy. [TheTopNews] Read More.52 mins ago
- Hyundai recalls nearly 48,000 SUVs over seat belt issue that could increase cras...Hyundai is recalling more than 47,000 Kona SUVs in the U.S. after discovering a defect with the rear center seat belt buckle that could increase the risk of injury in a crash.The recall covers 47,749 vehicles, including certain 2025 Hyundai Kona Electric and 2026 Hyundai Kona models, according to documents posted by the National Highway Traffic Safety Administration (NHTSA).The rear center seat belt buckle may fail to properly restrain an occupant during a crash, the automaker said.HYUNDAI MOTOR BRINGS BOSTON DYNAMICS' ATLAS HUMANOID ROBOT TO FIFA WORLD CUP IN GROUNDBREAKING ACTIVATION"A seat belt buckle that fails to properly restrain an occupant in a crash increases the risk of injury," NHTSA said in its recall notice.Hyundai is advising owners not to use the rear center seating position until the recall repair has been completed.The recall affects 47,733 model-year 2026 Kona SUVs and 16 model-year 2025 Kona Electric vehicles.HYUNDAI RECALLS MORE THAN 54,000 ELANTRA HYBRIDS OVER POTENTIAL FIRE RISKAccording to recall documents, Hyundai's supplier, Joyson Safety Systems, notified the automaker in February that testing identified a potential problem with the rear center seat belt buckle used in the Kona.Joyson determined the issue may have resulted from inadequate inspection controls that allowed metal stamping dies used to manufacture the buckles to remain in service beyond their intended lifespan, leading to excessive wear.Although there have been no confirmed crashes, injuries, fires or other incidents related to the issue, Hyundai said it decided to conduct the recall "out of an abundance of caution."Dealers will replace the rear center seat belt buckle assembly free of charge. Hyundai also said it will reimburse owners who previously paid out of pocket to repair the issue.CLICK HERE TO GET FOX BUSINESS ON THE GOOwner notification letters are expected to be mailed Sept. 11. Owners with questions can contact Hyundai customer service at 1-855-371-9460 and reference recall number 306. The NHTSA recall number is 26V452000. Vehicle identification numbers became searchable on NHTSA.gov beginning July 15.A representative for Hyundai did not immediately respond to FOX Business' request for comment. [TheTopNews] Read More.57 mins ago
- China’s Moonshot AI Unveils Kimi Model, Threatening America’s LeadChina’s Moonshot AI unveiled a freely available artificial intelligence model that seemed to narrow the gap with cutting-edge offerings from U.S. tech companies. [TheTopNews] Read More.1 hour ago
- Airlines warn changing daylight saving time would disrupt schedulingAirlines are warning that changes to existing practices around Daylight Saving Time (DST) would have a major impact on the industry and that changes would need to be implemented over time to account for challenges it would create for scheduling.Airlines for America (A4A), a trade group that represents leading air carriers in the U.S., released a statement this week which warned that changes to DST "would have considerable implications for aviation, including passenger disruption, crew and aircraft positioning, and domestic and international connectivity issues.""Airlines operate expansive interconnected domestic and global networks that are reliant on stability and predictability. Any changes would need an implementation timeline that reflects these global complications," the group said.The warning came as the House on Tuesday advanced the Sunshine Protection Act, which would allow states to voluntarily observe DST throughout the year and end the twice-annual clock changes, on a bipartisan 308-117 vote that sent the legislation to the Senate.HOUSE PASSES DAYLIGHT SAVING TIME REFORM AS TRUMP SIGNALS SUPPORT FOR ENDING CLOCK CHANGEThe bill faces uncertainty in the Senate, though President Donald Trump is expected to sign the bill into law if it reaches his desk, as the White House has urged lawmakers to support the legislation.Most states currently follow the practice of "springing forward" in March by moving the clock forward an hour into Daylight Time, and then "falling back" by an hour in November into Standard Time.Arizona and Hawaii are the only two states who don't participate in that practice, while 20 states have approved legislation that would see them remain on DST permanently if authorized to do so by Congress.DAYLIGHT SAVINGS: IT'S ABOUT THE SUNLIGHTProponents of permanent daylight saving time argue it would eliminate the disruptions caused by switching clocks twice per year and boost tourism and outdoor activities with more sunlight in winter evenings.Critics have argued that the earlier sunrises and sunsets of permanent standard time would better align with circadian rhythms, and would prevent situations when the sun may rise after 9 a.m. in the winter.TRUMP CHAMPIONS BID TO NIX CLOCK CHANGES BY ADOPTING PERMANENT DAYLIGHT SAVING TIMEThe American public remains broadly opposed to the current practice of changing the clock twice a year, as an AP-NORC survey released in December found just 12% of respondents were in favor of the current system, while nearly half were opposed. The remaining 40% had no opinion.The survey also asked about possible reforms and… [TheTopNews] Read More.2 hours ago
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