Paramount-WBD $110B Merger Faces Major Roadblock as Judge Issues Restraining Order

A judge has temporarily paused Paramount’s proposed $110 billion acquisition of Warner Bros. Discovery, granting a 14-day restraining order after California-led state attorneys general sued to block the deal on antitrust grounds. The merger would unite Paramount, Warner Bros., CBS, CNN, TNT, MTV, BET, Paramount+, and HBO Max under one company. Paramount has defended the transaction as pro-competitive and says it remains on track to close by the end of September.

Christopher Nolan’s The Odyssey has dominated the global box office with a $264.1 million worldwide opening, the biggest debut of the filmmaker’s career and ahead of The Dark Knight Rises ($249 million). The epic delivered $139.6 million internationally across 73 markets, including record openings for Nolan in France, Italy, India, Brazil, and more. IMAX contributed $51.8 million globally, with the film still awaiting releases in South Korea, China, and Japan.

Marvel has unveiled a new trailer for Avengers: Doomsday, offering the first official look at Robert Downey Jr. as Doctor Doom. The former Iron Man star leads a massive superhero ensemble in the Russo brothers’ MCU return, which also features Chris Hemsworth’s Thor, Chris Evans’ Captain America, and X-Men characters. The film hits theaters Dec. 18, with Disney expected to spotlight the highly anticipated sequel at this weekend’s San Diego Comic-Con.

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AMD is taking its biggest swing yet at Nvidia’s AI dominance. The chipmaker is preparing to ship Helios, its first rack-scale AI system, to Microsoft, Meta, OpenAI, Oracle, and other major customers later this year. Microsoft will deploy Helios in Azure data centers to support AI inference and services. With Nvidia controlling more than 95% of the data center GPU market, AMD is betting its integrated system of GPUs, CPUs, networking, and software can make a dent.

Justin Bieber used the 2026 FIFA World Cup Final halftime show to debut an unreleased “Latte” colorway of the SKYLRK Matter Daddy sneaker. The low-top silhouette was part of a custom head-to-toe look from Bieber’s brand, which also included SKYLRK apparel, eyewear and performance accessories. The reveal came as SKYLRK hosted a five-day pop-up in New York City, following the sold-out debut of the sneaker in June.

AMC Theatres is riding Hollywood’s box office rebound to record quarterly revenue, with sales jumping 14% year over year to $1.59 billion in Q2. Attendance also surged, up 12% domestically and 18% internationally. Investors responded by sending AMC shares up 17% in premarket trading on Monday. The theater chain is betting on continued blockbuster momentum and premium formats to fuel its recovery.

Alphabet shares rose after reports that Google is developing a specialized AI chip, internally dubbed “Frozen v2,” designed to run Gemini models more efficiently. By embedding parts of Gemini’s architecture directly into the silicon, the chip could deliver six to 10 times more tokens per unit of power than Google’s latest TPUs, according to The Information. The company is reportedly targeting a 2028 deployment as AI demand continues to strain its computing capacity.

Michigan athletic director Warde Manuel will step down at the end of 2026 after more than a decade leading the Wolverines’ powerhouse athletic department. His decision follows an independent review prompted by a series of scandals, including NCAA violations and the firing of football coach Sherrone Moore. The investigation found misconduct was not widespread but cited weaknesses in accountability, oversight, and reporting. Manuel will remain through year’s end to help implement recommended reforms.

Future has teamed up with COMME des GARÇONS PLAY and artist Robert Nava for a limited-edition rework of the Converse Chuck Taylor 70. Limited to just 300 pairs, the black-and-white sneakers are now available to pre-order exclusively through Dover Street Market for $295. The first 30 orders will also receive a signed copy of Future’s The Real Me. The collaboration follows its Paris debut last month.

CDs are making a major comeback. Sales jumped 16% to 16.3 million units in the first half of 2026, outpacing vinyl’s 2.4% growth, according to Luminate. Even excluding BTS and the broader K-pop catalog, CD sales rose 6.7% year over year. Overall U.S. physical music sales climbed 7.8% to 38.2 million units, as younger listeners and collector-driven releases continue to fuel renewed interest in tangible music formats.

Jersey Mike’s is targeting a valuation of nearly $8 billion in its upcoming U.S. IPO, seeking to raise as much as $1.09 billion by offering roughly 43.5 million shares at $21-$25 apiece. The sandwich chain, which has more than 3,300 locations, grew revenue 11% to $724 million in 2025. Blackstone, which acquired the company for about $8 billion, including debt, last year, will retain majority voting control after the offering.

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